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Companies

Mastercard Is In Talks With UK Banks About Launching Cards With Fingerprint Scanners

“Mastercard is holding talks with banks in the U.K. about bringing biometric payment cards to market. The credit card firm has been testing cards with in-built fingerprint scanners, which are used to verify customers’ identities. This is intended to replace the use of passwords and speed-up the process of making payments online and contactless transactions in-store.”
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Global

Tesco Trials Cashless ‘Shop And Go’ Store At HQ

“Tesco staff are trialling a completely cashless store at the grocer’s headquarters in Welwyn Garden City, including ‘shop and go’ technology similar to that used in the Amazon Go store in Seattle. Solely in test mode and restricted to the staff shop on its HQ premises, the technology allows customers to scan and pay for their products […]
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Global

Convenience Of Debit Card Payments Puts Cash In Second Place

“The popularity of contactless payments among UK consumers is a key driver of debit card growth. In total, across both debit and credit cards, the number of contactless payments increased by 97 per cent during 2017 to 5.6 billion. Almost two thirds (63 per cent) of people in the UK now use contactless payments, and […]
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Global

Wait Goes On For ‘Instant’ Payments

“A backlog of payments – including wages – that were blocked by an IT problem on Sunday has yet to be cleared, three days on from the glitch. Some bank customers have spoken of their frustration that payments had not yet reached their destination. The Faster Payments system should see money moved within two hours. […]
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Global

UK Rregisters 8% Dip In Payments Card Fraud In 2017

“A new interactive map by analytic software firm FICO has revealed 8% decrease in payments card fraud across the UK in 2017, which is said to be the first drop since 2011. The map is based on data obtained from Euromonitor International and UK Finance, and analyses card not present (CNP) fraud changes in Europe. […]
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Global

Name checks to begin on bank payments

“The name of someone receiving a payment will be as important as their banking details for the first time from next summer, in an attempt to combat fraud. At present, anyone wanting to transfer money enters the intended recipient’s name, account number and sort code. However, the name is not checked. Under plans from the UK’s payments […]