East London gets local currency built on the blockchain

Colu digital currency

Residents across East London can now make mobile payments at small businesses with a local currency launched by Tel-Aviv-based digital wallet provider Colu which makes use of blockchain technology. The launch of the Local Pound East London follows a roll out across the northern city of Liverpool in February 2017. More


Harris Poll: PayPal leads mobile payment brands, yet up-and-comers making brand equity gains — The Harris Poll — “PayPal — followed closely by Amazon brands — retains its Brand of the Year designation, leading mobile payment brands for the third consecutive year. However, up-and-coming brands Venmo (owned by PayPal), Square, and Apple Pay are making significant gains, according to new research from The Harris Poll’s 29th annual EquiTrend Study.” 



Mastercard and Western Union explore digital model for refugee camps — Mastercard — “Mastercard and Western Union examined the needs, challenges and opportunities for refugees and their host communities at two settlement camps in northwestern Kenya. The findings have led to the development of Smart Communities: Using Digital Technology to Create Sustainable Refugee Economies, a blueprint that would combine digital access to remittances, banking, education, healthcare and other basic needs.” 




OTP Bank launches contactless mobile payment — Budapest Business Journal — “Hungaryʼs OTP Bank today launched its contactless mobile payment solution, which has been implemented into its Simple mobile application… ‘As of today, Simple makes contactless payment with mobiles available for millions of OTP clients, without having to contact the bank or mobile service providers’.” 



US consumers turn to digital payments for online purchases

American Express

More than 70% of online shoppers across the US have used digital payment services including mobile wallets, one-click checkout buttons and peer-to-peer (P2P) payment apps, research released by American Express reveals, with 41% “always or sometimes” choosing to use digital solutions when they pay. More


Transfer money instantly to your bank account with PayPal — PayPal — “PayPal users in the U.S. will soon be able to instantly transfer money to their bank accounts via eligible debit cards linked to their PayPal account… Our beta of this is now available to select PayPal users and will be made available to all U.S. PayPal users with eligible Visa or Mastercard debit cards over the coming weeks and months.” 


Samsung Pay now supports HSBC and M&S Bank cards in the UK — Engadget — “It was only available to customers who bank with MBNA, Nationwide and Santander. Today, it’s playing catch-up with support for HSBC, First Direct and M&S Bank cardholders. While welcome, the app is still missing some of the big British money-lenders including Lloyds Bank and Barclays.” 



Paytm Payments Bank to join the UPI bandwagon in August — Economic Times — “The newly-launched Paytm Payments Bank will go live on the unified payment interface (UPI) by August… This will allow its customers to transact using a virtual payment address issued by the bank. The payments bank will be the latest to join the UPI bandwagon, with 50 banks already live on the platform.” 





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