News about Cashless society.
November 17th, 2016
Indian mobile wallet provider MobiKwik says it is ready to serve 300m users, up from its current 35m customer base, in the wake of the government’s withdrawal of Rs 500 (US$7) and Rs 1,000 ($14) notes from circulation. A spokesman says it has registered 18 times growth in transactions since the announcement of demonetisation earlier this month and is gearing up to accept 100m daily transactions. Mobile financial solutions provider Mahindra Comviva told NFC World demonetisation would make mobile payments the “de-facto payment mode” in India.
November 16th, 2016
Customers of India’s RBL Bank can now make QR code-based mobile payments using Mastercard’s Masterpass QR mobile payments solution, which has been integrated as a payment option within the bank’s OnGo mobile wallet. “Shoppers can…
October 26th, 2016
Apple Pay transactions have risen nearly 500% year on year, with more purchases made in September 2016 than during the whole fiscal year in 2015, Apple CEO Tim Cook has revealed during the company’s latest…
October 18th, 2016
Apple is planning to “pour further resources” into Apple Pay in Japan and across other Asian markets in an attempt to promote a cashless society. “We would like to be a catalyst for taking cash out of the system,” Apple CEO Tim Cook told Nikkei Asian Review. “We don’t think the consumer particularly likes cash.” Apple’s iPhone 7 flagship device will take Apple Pay to Japan utilising Sony FeliCa NFC technology this month.
August 23rd, 2016
Singapore plans to reduce the role of cash and checks by encouraging banks to switch to digital payments, according to the Monetary Authority of Singapore’s (MAS) Ravi Menon. “Menon said the MAS is asking the country’s banks to pass on to their customers the full cost of paper-intensive services,” Bloomberg reports. “The MAS also wants to see a majority of those transactions made using cellphones, or national ID or other secure numbers, rather than bank account numbers.”
July 26th, 2016
Almost two thirds of US consumers (62%) expect the country to become a cashless society in their lifetime, research released by Gallup reveals. “Solid majorities in all age groups say they can foresee a US society without cash, including 58% of those 65 and older and 63% of 18-to-29 year olds,” the firm says. “54% still say they like to have cash on them at all times. 42% say they are comfortable not having cash on them.”
May 18th, 2016
UK consumers can now make a £2 donation to the Blue Cross animal charity by tapping their contactless card against specially designed jackets worn by dogs. Each jacket houses a PayPal Here contactless terminal, which launched…
May 3rd, 2016
Turkey has introduced its own card payment system in an attempt to move towards a cashless society by 2023. Known as Troy, the system has been built into all point-of-sale terminals and ATMs across the…
April 27th, 2016
Almost a quarter of UK adults (24%) have used their mobile phone to make an in-store mobile payment and 12% do so on a regular basis, the Prepaid International Forum (PIF) reports. 49% of 18…
April 26th, 2016
Almost three quarters of UK consumers (73%) do not expect to be using cash in five years’ time in light of the rise of contactless payments and mobile wallets, research released by digital media agency Starcom reveals, and a third believe cash will be extinct within the next 15 years.
April 21st, 2016
Handset maker Micromax will soon begin offering its customers in India an NFC mobile payment service through a collaboration with Visa and payment solutions provider TranServ.
April 5th, 2016
A call by Sweden’s central bank to make using cash a legal right for consumers will create question marks in the minds of central banks and other players in international markets and will raise “some concerns” about a completely cashless society, the CEO of Turkish card payment system operator BKM has told attendees during a panel session at Money20/20 Europe.
July 27th, 2015
Payments made using wearable devices such as smart watches, fitness trackers and wristbands will grow from US$3.1bn in 2015 to $501.1bn worldwide by 2020, research from market intelligence firm Tractica finds. “By that time, wearable payments will represent approximately 20% of the total mobile proximity transaction volume and about 1% of total cashless transactions in retail,” the firm adds.
July 7th, 2015
Nearly one in four UK consumers (23%) think the country will become a cashless society within 10 years, research from Equifax and Gorkana Surveys reveals. “Apple Pay highlights that consumers are now widely receptive to payment approaches which use biometric technology and contactless methods and are comfortable accepting them as secure payment mechanisms,” says Equifax’s John Marsden.
June 18th, 2015
Payment service provider Billing System is to offer On Track Innovations’ (OTI) suite of NFC readers and devices to Japanese retailers, vending machine operators and taxi companies. “Japan’s current cashless payment settlement infrastructure, Felica, is unique to the domestic market and not compatible with international NFC services,” the companies say. “These settlement services are based on international standards.”
June 12th, 2015
Swedish telecoms giant Ericsson has partnered with Verifone Mobile Money to add support for NFC and contactless payments to its mobile commerce platform, enabling its carrier customers in emerging markets to add in-store mobile payments…
May 13th, 2015
Mobile network operator Airtel Ghana has partnered with Verifone Mobile Money to roll out NFC-enabled devices to Airtel merchants that will act as terminals, allowing more than 1.5 million registered Airtel Money users to make…
May 13th, 2015
The government in Denmark has proposed doing away with the obligation for retailers in the country to accept payment in cash, in an attempt to replace it with other methods such as plastic cards and mobile payments. “The government said, as of next year, businesses such as clothing retailers, gas stations and restaurants should no longer be legally bound to accept cash,” Reuters reports. The proposal will need to be approved by parliament but is “unlikely to meet much opposition”.