Mastercard and Visa lose share to UnionPay in global cards market

Mastercard and Visa lose share to UnionPay in global cards market — RBR — “The continued rapid expansion of the Chinese cards market has helped UnionPay to increase its share of cards to 43% in 2016, and extend its lead over Visa and Mastercard. UnionPay has been the largest scheme globally for card numbers since 2010 and, by the end of 2016, there were more than six billion UnionPay branded cards in circulation.”



Debit cards overtake cash to become number one payment method in the UK

Debit cards overtake cash to become number one payment method in the UK — British Retail Consortium — “For the first time the volume of retail purchases made by card now accounts for more than half of all customer transactions, according to the BRC’s latest annual Payments Survey, released today. This has partly been driven by UK customers increasingly using cards for lower value payments.”



Survey finds consumers view contactless shopping as both ‘cool’ and ‘creepy’

Rich Relevance

A survey of consumer attitudes to emerging technologies has found that the majority of both US and European consumers now believe that using fingerprint scanning to pay for purchases is ‘cool’ — but UK and European consumers are divided on the idea of contactless shopping services like Amazon Go, with 40% considering the technology to be ‘cool’ and 31% seeing it as ‘creepy’... More


Harris Poll: PayPal leads mobile payment brands, yet up-and-comers making brand equity gains

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 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.”



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



Contactless now the favoured way to pay for British shoppers as spending leaps 34 per cent since the start of 2017

Contactless now the favoured way to pay for British shoppers as spending leaps 34 per cent since the start of 2017 — Barclaycard — “More than half (51%) of all transactions up to the eligible spending limit of £30 are now made using contactless… The amount spent by users of Barclaycard’s Android Contactless Mobile app has jumped by 90% in 2017.”



Worldwide spending on the Internet of Things forecast to reach nearly $1.4 trillion in 2021

Worldwide spending on the Internet of Things forecast to reach nearly $1.4 trillion in 2021 — IDC — “A new update to the International Data Corporation (IDC) Worldwide Semiannual Internet of Things Spending Guide forecasts worldwide spending on the Internet of Things (IoT) to grow 16.7% year over year in 2017, reaching just over $800 billion. By 2021, global IoT spending is expected to total nearly $1.4 trillion.”


Ease of use, data security are priorities for bank and credit card mobile app users, JD Power finds

Ease of use, data security are priorities for bank and credit card mobile app users, JD Power finds — JD Power — “More than two-thirds (69%) of study respondents indicate they have used a mobile payment service in the past 30 days. That number jumps to 76% among Millennials and Gen Z. This evidence suggests that efforts to integrate mobile payments with the mobile banking and credit card app experience would be beneficial.”


Insights into the future of cash

Insights into the future of cash — Bank of England — “The value of Bank of England notes in circulation peaked in the run-up to Christmas 2016, reaching over £70bn for the first time — an increase of 10% on a year earlier. This is the fastest growth we’ve seen in a decade, and a giant leap compared to the £2.9bn when the ATM was born.”



Rise of the technophobe – education key to tech adoption, says HSBC

Rise of the technophobe – education key to tech adoption, says HSBC — HSBC — “The study of more than 12,000 people in 11 countries reveals four in every five people (80%) believe that technology makes their lives easier but less than half (46%) trust fingerprint recognition to replace their password, despite it being recognised to be at least five times more secure and significantly more convenient than traditional passwords.”



Xiaomi and Apple tie for the top position as the wearables market swells 17.9% during the first quarter, according to IDC

Xiaomi and Apple tie for the top position as the wearables market swells 17.9% during the first quarter, according to IDC — International Data Corporation — “The worldwide wearables market maintained its upward trajectory during the first quarter of 2017 (1Q17) with Xiaomi and Apple leading all companies and multiple products experiencing double- and triple-digit growth.”



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