Dear Subscriber,

In this afternoon’s newsletter, Richard Broadbent of Wincor Nixdorf explains what the banks of today can learn from banks of the last century when it comes to customer experience.

Plus, Barclaycard has launched what it describes as the ‘world’s first contactless beer pump’ – is this the future of payments in pubs? And in a new partnership with PayPal, Citigroup is set to become the first bank to have its cards tokenised for in-store purchases using PayPal.

Enjoy!

With advancements in technology and the subsequent availability of data, it seems surprising that banks seem to know less about their customers than ever before.

Barclaycard has launched, what it describes as, the ‘world’s first contactless beer pump’. According to the card issuer, the pump is designed to target the 12-minute average waiting time at the bar by speeding up the order, the pouring and the payment process.

In an era where cheques are largely a thing of the past for organisations that operate within these shores, many people will be surprised to learn that many overseas B2B payments are still made by cheque.

PayPal has partnered with Citigroup to make paying using mobile phones easier. As part of the deal, Citi will become the first bank to have its cards tokenised for in-store purchases using PayPal.

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.