Following a milestone in August, when spending via contactless accounted for 20% of all card transactions in the UK, the technology has reached another: contactless now makes up a quarter of all UK card transactions, according to the latest figures from the UK Card Association (UKCA).
It’s no secret that customers increasingly prefer to use mobile banking apps to manage their cash ‘on-the-go’ over online banking.
IZettle, Square's European rival, has raised €60m ($63.4m) in new funding and has also appointed a new CFO, Maria Hedengren.
ING has partnered with Dutch startup, Whydonate, to create a contactless charity collection box to help keep the charity sector innovative in a time when cash is being used less frequently.
Clarity Money, the brainchild of venture capitalist Adam Dell, is a new personal finance app that uses AI and data science to save users money by finding better-priced energy bills, cancelling subscriptions and provide tailored suggestions on things such as credit cards.
Monese, the mobile-only bank aimed at European customers who may struggle to open a bank account in the UK via traditional means, has raised $10m in Series A funding round.
Finally this week, we're going to look at the news articles, thought pieces and analysis on the banking sector that most drew our readers' attention. If you missed these gems when they were published, now’s your chance to read them!
Moneybox, the smartphone app aimed at getting millennials investing, has launched its service for Android phones, which can be downloaded on Google's Play Store.
It's beginning to look a lot like contactless, everywhere you go. So much so that contactless payments have increased by 166% year-on-year, according to new research from Barclaycard.
The last few months have been rather exciting for those with an interest in PSD2 and Open Banking. But while we all may privately have hoped developments in open banking and PSD2 might have provided a final level of clarity by now, this is not yet the case.