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. More
Cashless society
Micromax to launch NFC mobile payments with TranServ and Visa
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. More
Turkey embraces cashless society despite Swedish concerns
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. More
Wearable payments to reach $501bn by 2020
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... More
One in four think UK will be cashless in 10 years
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... More
Billing System brings OTI NFC readers to Japan
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... More
Ericsson and Verifone bring NFC mobile payments to developing world
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 capabilities to their mobile money services... More
Airtel and Verifone to deliver NFC payments in Ghana
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 payments with their phone... More
Denmark government aims for cashless society
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... More