Cash still accounts for 78% of European payments

Cash payments accounted for 78% of Europe’s 388 billion retail payment transactions in 2008, according to a new study by Retail Banking Research (RBR), and the cost of distributing, managing, handling, processing and recycling cash and of accepting cash payments came to a total of €84 billion. That’s the equivalent of 0.6% of Europe’s GDP or €130 per person, say the researchers. More

Gemalto adds Mifare DESFire to NFC phones

Gemalto has announced it has implemented NXP’s Mifare DESFire transport ticketing solution on a SIM card for the first time, enabling NFC phones to be used to replace tickets on the forty transport systems around the world that have implemented the high security ticketing system to date. More