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PayPal’s Schulman Not A Bitcoin Fan

Digital payment company PayPal is not betting on bitcoin as of now. In an interview with TheStreet.com, PayPal chief executive officer Dan Schulman said that while PayPal is focused on innovating in the payment market, it’s not focused specifically on the digital currency.

“I think right now, and we’re seeing this maybe more than ever, the volatility of the cryptocurrency makes it actually unsuitable to be a real currency that retailers can accept,” Schulman said in the interview. “[That’s] because retailers have very narrow margins, and when you have a bitcoin bouncing up and down by 15 percent over a couple weeks period, that can be the difference between profits and losing money on every sale.”

While Schulman is skeptical about bitcoin, he did says blockchain technology is a “real breakthrough” for any technologies that are founded on distributed trust. PayPal has a lot of room to innovate with blockchain technology.

“I think you need to separate out the bitcoin or cryptocurrencies as currencies and the underlying protocol called blockchain,” he said.

The executive also noted that blockchain isn’t being viewed as a competition to PayPal or to other financial services firms, but rather as a technology that enabled innovation to be created on top of it.

Schulman’s comments come at a time when bitcoin is garnering a lot of attention on the part of investors, something that has sent its value skyrocketing. The cryptocurrency began 2017 at approximately $1,000 per coin and was recently valued at $14,800 per coin.

The fact that the virtual currency is unregulated and extremely volatile has led regulators around the globe to warn about the risks associated with investing in bitcoin. China and South Korea have banned bitcoin exchanges and initial coin offerings (ICOs) altogether. Meanwhile, JPMorgan Chase chief executive Jamie Dimon called bitcoin a “fraud” last year and said he would fire any trader who traded in it.

Source: (Pymnts, 2018)

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Payments Testing One, Two, Three

Modern consumers have high expectations for technology. If something doesn’t work perfectly, they’re quick to grow frustrated and abandon it as junk.

“Our generation is a little bit spoiled,” said Bart van Hoek, head of Innovations with UL Transaction Security — and he said that is all the more true with payments tech.

Imagine going out for breakfast only to find that the point-of-sale (POS) terminal isn’t working. Without it, how will you pay for your meal? Maybe you happen to be carrying cash that day, but even if you’re able to hand over a crisp $20 bill to cover the cost, the experience has certainly created friction.

Online, there’s no cash to fall back on. If the payment doesn’t work the first time, said van Hoek, that sale is as good as lost. Nobody wants to see a box that says the website is experiencing technical difficulties; please try again later. The customer likely won’t even remember to try again later, and if he does, he may not return to the same site. Most shoppers just give up on the faulty site and head to a competitor to complete the purchase instead.

Perfection, however, is not easy to achieve in any singular product. In payments, there are hundreds of players involved in making every single transaction work smoothly, from acquirers and banks to regulators setting standards that must be met to, of course, the payments processor.

The point-of-sale terminal at Walgreens or Kroger must work with a credit card from Chase, a mobile payment, a foreign debit card and more. How can the company that produces the terminal ever be sure it can do all that?

Trial and error, said van Hoek. But not with real consumers or real transactions. That is where payments testing comes in. In a recent interview, van Hoek told PYMNTS how this quality assurance process works for payment technology companies, how that’s changed over the years and why this stage of product development is so important.

 

An Investment in Reputation

User experience is more than a buzzword, van Hoek said. Every tap on a mobile device, every imaginable payment method — all of it is about creating the most seamless and smooth user experience possible, devoid of any bugs or errors.

Testing lets the developer see how the product will perform for every customer in every situation and shows whether the software is logical and intuitive or needs to be smoothed over.

When developers invest in payments testing, they aren’t just ensuring that their product does what it’s supposed to do, said van Hoek. They’re investing in their reputation. Building a good reputation is hard. Destroying it is easy — all it takes is one bad product. Earning back consumers’ trust is more difficult the second time around.

With the speed of innovation today, it may feel like a race to get products to market, but the last thing any developer wants is to go to market only to watch the product fall apart in the real world. Between the expense of fixing it and the business lost due to damaged reputation, “Those are costs you don’t want to bear,” said van Hoek.

 

Automate

To achieve the highest level of product quality, the product must be subjected to a high level of testing, and that requires a lot of repetitive actions and test cases. The number of repetitive actions will only increase as new payment methods and infrastructure are introduced and must also be tested.

That’s why payments testing is often seen as a chore. But, said van Hoek, it doesn’t have to be. Today, there are tools on the market to help manage some of those repetitive tasks, freeing up human testers from pressing buttons all day to make better use of their time.

Van Hoek said that manual testing can be extremely labor-intensive and time-consuming in some cases. But that doesn’t necessarily mean artificial intelligence (AI) has to be a part of the answer, he said. It simply means that any pieces of the process that can be automated should be.

Which pieces? That’s a decision that only the company can make. Van Hoek said that, due to the complexity of some test cases, automation is not always cost-efficient, either. Individual organizations must decide what is the best combination of manual and automated testing to optimize their processes.

At UL Transaction Security, customers can submit their hardware to undergo a barrage of different uses and scenarios in UL’s test labs, and van Hoek said the company is always looking to automate even more of the process as new technologies become available. The key client problem that UL helps to address is reducing time to market by eliminating the complexity that companies are facing with new technologies and regulations flooding the market.

 

Divide and Conquer

In the old days, said van Hoek, testing used to be done on final products at the end of the development cycle. But today, payments testers, like UL, subject the product to smaller tests along the way. By breaking the project into manageable chunks, UL is able to be more thorough in its testing and can identify problems before the rest of the product gets built around them.

Van Hoek said that can save a lot of time and money throughout the development process, as it enables development teams to address issues as they go along rather than having to tear down and rebuild a final product that doesn’t work right.

The thinking around testing must change, he argued. It’s more about quality assurance, though testing is just one piece of a larger quality assurance process that includes identifying, anticipating, managing and resolving issues across the product, while testing focuses specifically on finding and eliminating bugs.

As development processes have become more agile, van Hoek said that testing processes throughout the lifecycle must also increase their agility.

 

Growth Ahead

Again, the number of payment methods out there — and the infrastructure that goes with each one — is only going to increase. There are many players trying to disrupt the industry, but people aren’t abandoning cash and credit cards to pay with their smartphones; it’s not “either/or” but “both/and.”

Cryptocurrencies are another growing method in the payments industry, and the price of bitcoin (currently around $11,000) reveals just how popular it is among its fans. Eventually, at least some consumers are going to want to spend that digital currency in real-world brick-and-mortar stores.

Money is money, and merchants want to be ready to accept whatever form of it customers want to hand them. Doing that will require new technology and new components, or new use cases for old components, van Hoek explained — all of which will need to be tested and validated before rolling out to merchants and the public — for their own good and for the good of the brand.

Source: (Pymnts, 2017)

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Paytm Says On Track To Be World’s Biggest Digital Bank

In an interview with Bloomberg published Tuesday (Nov. 28), Paytm founder Vijay Shekhar Sharma said the company is aiming to have 500 million bank accounts.

“We are unveiling our money market fund, launching our debit card and we’ll have the capabilities to allow enterprises to open business accounts,” Sharma said. “Digital payments was our entry point, we want to become a vertically-integrated financial services company.”

While Paytm Payments Bank can accept deposits and remittances, it cannot lend money to its customers. The bank will be the country’s first mobile-only bank that does not charge fees for online transactions and will not require a minimum balance. The bank is majority owned by Sharma, but telecommunications firm One97 Communications has a 49 percent stake. According to Sharma, the company can get around regulatory obstacles to offer lending by working in partnership with One97, which will launch a credit card and offer monthly installment-based loans.

“We will launch share trading and insurance products very soon,” he added. “We want to become an nternet-agei financial services company.”

Sharma explained his company is leveling the playfield. The banking system has traditionally been skewed heavily toward those with money, while the less wealthy people of India have had a tough time paying their bills or transferring money to family members.

“Buying insurance and investing through our wealth management products will become widely accessible through the payments bank,” he said.

Paytm Payments Bank is an offshoot of digital money service Paytm, an electronic payment firm which recently obtained a permit to create a payments bank and provide financial services to those underserved by the Indian financial services industry.

 

Source: (Pymnts, 2017)

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APPLE PAY P2P Payments Coming To Apple Watch In The Autumn

 

apple-watch

 

 

Peer-to-peer payments are coming to the Apple Watch this fall with the release of iOS 11 and watchOS 4.

On its website, Apple said that Apple Pay users will be able to send and receive money quickly, easily and securely via its peer-to-peer payment platform. The feature will be available right in Messenger, or users can tell Siri to pay someone using a virtual debit card or credit card already loaded into the digital wallet. When users get paid, they will receive the money instantly in the new Apple Pay Cash card that will reside in the Apple Wallet.

The move on the part of Apple to include P2P payments with the new iOS 11 and watchOS 4 comes at a time when the company is trying to get Apple Pay in the hands of more users. Earlier this month, Didi, the Uber of China (and, in fact, the local service that gobbled up Uber China last August) announced it has added Apple Pay support to its Didi Premier, Didi Express and Didi Luxe personal mobility services, in addition to its partner station-less bike rental service ofo, according to a TechCrunch news report.

Apple Pay is standard fare on any iOS device, allowing users to authenticate payments biometrically – today, with their fingerprints, and soon using Face ID on the forthcoming iPhone X. That’s on top of other iOS features Didi already supported, including Siri-powered ride hailing from within the Maps app or via the Apple Watch. With the addition of support by Didi, Apple Pay joins the likes of WeChat, Alipay, QQ Wallet, international credit cards and CMB all-in-one net payment, all of which power Didi’s core services. It also comes at a time of increased competition from Fitbit, which recently launched the Ionic smartwatch.

 

Source (Pymnts, 2017)

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Avoid being hit by the Government’s credit card surcharge ban with Cheaper Pay!

As of January 2018, businesses will be stripped of their ability to add any surcharges to their card transactions.

Airlines, fast-food chains and small businesses will be those who suffer most from the ban, but there are ways in which these companies can make up for this potential loss of capital.

Cheaper Pay’s industry-leading payment solutions come in at a staggering 40% cheaper price than the likes of WorldPay, Barclays and Lloyds – offering terrific value for money, as well as bearing the costs that may be lost in profit once these government changes come in to fruition next year.

Having provided UK businesses with the crème de la crème of payment technology for over a decade, Cheaper Pay are well placed to install the ideal payment system that is perfect for your business’s needs.

For a FREE no-obligation quote, get in touch with one of our specialist advisers today on 03301 242 537.

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Sole Trader? There’s no need to go it alone – and employing these three people could help!

Many small business owners run their entire enterprise alone, which is perfectly understandable when it comes to keeping costs down.
However, going it alone as an SME is difficult to say the least – and employing these three people can help you take your business to the next level.

1) Accountant
As a small business owner, your goal is to make money–so it only makes sense to consult a professional to help you manage this crucial aspect of your business. Becoming a business owner naturally adds complexity to your tax scenario, so at tax time, an accountant can be crucial for making sure you’re in full compliance and are filing correctly.

2) Assistant
Being a solo business is difficult. Tasks and communications that don’t have to do directly with the day-to-day of customer relations, creating or offering your products and services, and other immediate tasks might become backed up, or even fall by the wayside.
This is where an assistant can come in handy. By employing a loyal employee, you can leave the simple store transactions while having more time to deal with the important things!

3) PR and Marketing Assistant
Getting your name out there is a key factor in achieving a successful business; and a PR and marketing executive can help achieve just that.
Having someone directly available to create social media content, produce flyers and leaflets, manage marketing and deal with outside queries can hugely improve your business reputation as you progress up the success ladder!

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Why the new £1 coin could be the last ever made as Britain moves towards a cashless society

The two-tone pound coin boasts innovative security features which supposedly make it the most secure on the planet. It is also the first UK coin in circulation since the threepenny bit to feature a design of octagonal proportions.

But despite its impressive design, there’s every chance that this will be the last £1 coin in the history of our currency.

Why?

The decline of coins and notes is not just being driven by the convenience of alternative, more high-tech payment methods – it’s also because of the simple fact that cash costs money to make!

The UK is a world leader when it comes to alternative payments. In 2015 alone, Brits spent over £21bn via contactless payments – more than any other country on the continent.

This explains why every business, from popular chains to pop-ups, know that their customers expect to be able to pay by their card, mobile, or wearable device – and over 17.m UK businesses now accept payment cards.

As if we needed any more proof that it’s time to convert to contactless and mobile payments, we now officially have it!

Get in touch with a member of our team today to identify the payment solutions that are perfect for YOUR business.

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Pepare for the next generation of card payments

Paying for your shopping using your smartphone just got even easier as Mastercard expands the reach of its mobile payment app.

The humble credit and debit card may be a step closer to extinction thanks to a new announcement from Mastercard.

The company has revealed a major expansion to its Masterpass digital wallet service that will allow customers for the first time.

Going forward, Masterpass should now work seamlessly on your smartphone, wearable device or tablet, letting you pay online, in-store, or using the NFC-enabled app with just one touch.

Masterpass makes paying for goods even easier

Masterpass makes paying for goods using your smartphone even easier

Mastercard says that the new service, which links to your current account, is perfect for a wide ranges of use cases, from paying for the tube in the morning to splitting the bill at lunch and ordering your weekly shop online.

Banks will also be able to build Masterpass into their own apps, bringing together all your various digital payment methods and apps in one place.

The company says that around 80 million people around the world will be able to benefit automatically from the new service, which launches in the US today before expanding to Europe later next year.

The news comes as competition in the mobile payment market continues to increase, as big players such as Apple and Samsung throw their weight behind the technology.

Since its launch in 2014, Apple Pay has helped popularize the idea of paying for good using a mobile phone in the UK, with thousands of businesses across the country supporting the technology.

 


Moore, M. (2016) Home. Available at: http://www.express.co.uk/life-style/science-technology/689626/mastercard-masterpass-contactless-shopping-payment-app-nfc (Accessed: 15 July 2016).

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Selfies And Contactless Rings: New Ways To Pay

The way we pay for goods is changing. Get ready for Selfie Pay, contactless payment rings and iris scanners.

What if you could use a selfie to pay for things? How about the rhythm of your heart?

New technologies that could change the way we buy things have been shown off at the Gherkin as part of London Tech Week.

Selfie Pay takes everyone’s favourite vanity exercise and makes it useful: allowing you to authorise a transaction with your face.

The app requires you to blink so it knows you’re really there and someone isn’t using a photo of you to fraudulently authorise a transaction.

The idea is to get rid of the need for passwords, instead using biometrics: unique data based on individual characteristics like your face, eyes or fingerprint.

“If you think about passwords, they’re a standalone measure,” said Jane Khodos from MasterCard. “They’re easily lost, stolen or forgotten.

“Here you’re authenticating with what you have: your phone and also who you are.”

You could use this kind of tech to buy goods, pay for bus or train fares, or to log into your computer.

We also saw more of Nymi: a wearable wristband that can identify you by the unique rhythm of your heart, found in your electrocardiogram (ECG).

Your heart rhythm is not to be confused with your heartbeat, so the band would still work if you had just run for a bus, for example.

“We’re also very concerned about the security issues, it’s something that’s top of the mind for us,” said Amy Neal from MasterCard Labs, the company’s research and development division.

It is not just biometrics that could change payments.

Kerv is said to be the world’s first contactless payment ring: a simple piece of technology that essentially means you are wearing a contactless payment card.

Payment tech inventors emphasise that there is no need to choose just one of these products.

“You can start to bundle biometric authentication together,” says Ms Neal. “So you might have Selfie Pay, but also the electrocardiagram for additional security.

“We hear stories like people are concerned that they may have an identical twin, so what does that mean if you’re doing selfie pay?

“For us this is ensuring that we have a full suite of biometrics available.”

The Kerv ring is due out in July, Selfie Pay comes out in the UK this year and the Nymi band and iris scanner are both still in development.

 


Team, T.S. (2016) Selfies and Contactless rings: New ways to pay. Available at: http://news.sky.com/story/selfies-and-contactless-rings-new-ways-to-pay-10323052 (Accessed: 15 July 2016).

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London’s contactless Tube payment system is going global

Other cities will soon be able to use TfL technology to develop their own contactless payment systems.

The contactless payment system used on London’s transport network will soon be modified for use in other cities.
A deal between Transport for London (TfL) and transportation firm Cubic will see the latter adapt the contactless ticking system and license it around the world. The deal, worth up to £15 million, will help TfL ensure fares don’t rise for the next four years, the mayor’s office said.

Cubic will be given access to London’s contactless system to allow it to tailor it to other transportation networks. The company first worked with TfL in 2003 to develop the technology behind Oyster and has since helped upgrade the system to support contactless payments from debit cards, Apple Pay and Android Pay.

Outside London, CTS provides similar ticketing technology to Brisbane, Chicago, Sydney and Vancouver. The non-exclusive deal with TfL will allow the company to integrate technology developed for London’s network into other transport systems.
According to TfL, more than 500 million journeys have been made by more than 12 million unique credit and debit cards since the contactless system launched on London’s busses in December 2012. The technology was expanded to cover Tube and rail in September 2014 and has been used by customers from 90 different countries with one in ten contactless transactions in the UK made on TfL’s network.

Cubic continues to run TfL’s ticketing and fare collection services on 8,500 busses, 1,900 Underground and Overground ticket gates and 1,600 ticket machines across the network.

 


Temperton, J. (2016) London’s contactless tube payment system is going global. Available at: http://www.wired.co.uk/article/london-underground-contactless-payments-licensing-deal (Accessed: 15 July 2016).

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Visa: Most People Back Biometric Payments

Majority of people want to use biometrics when making payments, with fingerprints the favoured option.

New research from Visa has revealed that a clear majority of people are in favour of combining biometrics with their payment process.

The Visa Biometric Payments study surveyed over 14,000 consumers across seven European markets. And it comes at a time when the use of biometric technology is being actively debated as a way to improve transaction security.

Safer Transactions

Biometric technology of course has been around for many years now, but thanks to some high-profile launches of late such as Apple’s TouchID system and Windows Hello, the technology is being used by more and more people.

And the Visa survey revealed that two thirds (73 percent) of people believe that two-factor authentication, where a form of biometrics is used in conjunction with a payment device (i.e. a mobile device or card reader), would make for a more secure payment authentication.

Half of people (51 percent) believe that biometrics would make payments faster and easier, and 68 percent want to use biometrics as a method of payment authentication. The survey revealed that biometrics would mostly help online retailers, as nearly a third (31 percent) of people have at some stage abandoned a browser-based purchase because of the payment security process.

And it seems that 33 percent of people appreciate the fact that biometric authentication means their details would be safe even if their device was lost or stolen.

“Biometric identification and verification has created a great deal of excitement in the payments space because it offers an opportunity to streamline and improve the customer experience,” said Jonathan Vaux, Executive Director of Innovation Partnerships. “Our research shows that biometrics is increasingly recognised as a trusted form of authentication as people become more familiar with using these capabilities on their devices.”

“Biometrics work best when linked to other factors, such as the device, geolocation technologies or with an additional authentication method,” said Vaux. “That’s why we believe that it’s important to take a holistic approach that considers a wide range of enabling technologies that contribute to a better end-to-end experience, from provisioning a card to making a purchase to checking your balance.”

What type?

Fingerprint recognition is viewed as the most favourable secure option by 81 percent of respondents. Iris scanning is backed by 76 percent of people.

But most people are comfortable with fingerprints, as 53 percent of people expressed a preference for fingerprint over other forms of biometric authentication when using it for payment. The other biometric choices such as voice or facial recognition as a payment method are much less popular.

The survey also found that 48 percent of respondents want to use biometric authentication for payments when on public transport. 47 percent want to use biometric authentication when paying at a bar or restaurant, and 46 percent want to use it to purchase goods and services on the high street at a coffee shop or fast food outlet for example. 40 percent want to use it when shopping online and 39 percent when downloading content.

Biometric Uptake

Biometric technology is seeing increasing use of late, not just because of its incorporation into mobile and computing devices.

Earlier this year HSBC launched new biometric logins for its customers. Barclays also allows some of its corporate clients and Wealth customers to log in to their accounts using a biometric reader, and also has voice recognition software, enabled for certain users, with RBS and NatWest also offering fingerprint technology to some customers.

Previous research has found that younger British consumers are the most comfortable with using biometric data to verify their accounts.

 

 


Jowitt, T. (2016) Visa: Most people back Biometric payments. Available at: http://www.techweekeurope.co.uk/security/authentification/people-biometric-payments-195063 (Accessed: 15 July 2016).

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Contactless payment coming to Birmingham buses and trams

The way we pay for public transport will become a lot more straight forward.

Catching the bus in the West Midlands is about to get a lot easier.

National Express West Midlands has announced plans to fit their buses with technology to allow contactless payment.

Their 1,500 buses in the area with take payments from bank cards, smartphones, smart watches, cash and Swift cards.

Peter Coates, managing director of National Express West Midlands, said: “We know our customers want the choice of using contactless when they travel.

“Only a month ago, we introduced it on the Midland Metro and already 7% of passengers buying a ticket on board are using contactless.

“So, as part of our pledge to the West Midlands Bus Alliance to get more people travelling by bus, we are investing in contactless because it makes journeys quicker and easier for passengers.”

The new technology will appear first on buses in Coventry by the end of the year before coming to Birmingham and the rest of the West Midlands over the following two years.

It is predicted to speed up bus journeys because passengers will spend less time buying a ticket at bus stops.

A report into the effects of congestion on bus passengers recently said: “If London-style cashless buses with contactless payment and smart ticketing could be extended to the rest of the UK, bus journey times could be improved by up to 10% by halving dwell time at bus stops.

Soon you will be able to pay your bus fare with your debit card.

“In urban conditions, dwell time makes up between 25% and 33% of total journey time. The big five bus operators in the UK have set a target to introduce contactless bus transactions by 2022.

“They should do everything possible to accelerate this, and it is realistic for them to achieve this goal in the large conurbations within three years.”

 


Beardsworth, L. (2016) When will contactless payment be available on Birmingham buses?Available at: http://www.birminghammail.co.uk/news/midlands-news/contactless-payment-coming-birmingham-buses-11609505 (Accessed: 14 July 2016).

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Festival-goers snap up contactless technology as Qpal launches

QPAL, an Aberdeen-based start-up that has created an innovative technology solution for the events industry, officially launched on Saturday with its first successful deployment at a music and ale festival near Edinburgh.

Aiming to enhance event experiences for both organisers and attendees, Qpal is bringing its innovative web application, which enables efficient, smart and cashless payments via contactless technology, to the UK events industry.
Craig Buchan, founder and managing director of Qpal, comments: “The Qpal team is thrilled to officially launch after the first full deployment of our technology at the inaugural Hops in the Garden event, which took place near North Berwick.

“We developed this solution with the core aims of reducing queue times, increasing revenues, and giving event organisers access to real-time data – with the overarching mission of boosting and enriching live events for everyone involved. This is exactly what we achieved at Hops in the Garden, and we are set to do the same at upcoming events across the country.

“We were delighted to work alongside an early adopter of the Qpal technology, who fully embraced what we are trying to bring to the industry, and bought into our vision.”

Ian Stokes, manager of Hops in the Garden, adds: “From initially meeting the Qpal team, we knew this unique solution would be a great fit for our event. As our venue is relatively isolated with no cash machine on-site, Qpal was the perfect solution to ensure our attendees could easily purchase food and drink throughout the festival.”

The Qpal technology allows event attendees to load cash onto a branded card, and use its contactless technology to quickly and easily make payments throughout an event. This eliminates the need for cash or token systems, which are currently used across the events industry, and brings about a whole host of benefits to event organisers and attendees alike.

Ian continues: “We plan to host Hops in the Garden again next year, so the access to the data analytics is invaluable, enabling us to make key decisions based on a better understanding of our customers and their purchasing behaviour.

“We wish Craig and his team all the best for the future, and thank them for helping us to deliver a better event experience.”

In February this year, Qpal was accepted onto the exclusive 12-week Accelerator Programme in Aberdeen, which is run by Elevator UK, a business support organisation and centre of entrepreneurship based in Aberdeen.

 


 

Festival-goers snap up contactless technology as Qpal launches, via: http://www.scotsman.com/news/festival-goers-snap-up-contactless-technology-as-qpal-launches-1-4175705 (Read 13/07/2016)

 

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Apple Pay is coming to the web – but there’s a catch

Apple Pay will soon be available on in browsers on macOS and iOS, but payments will still have to be authenticated on an iPhone.

Following months of rumours, Apple has confirmed it is launching Apple Pay on the web.

The feature was unveiled at the annual Worldwide Developer Conference and will let you pay for goods through Safari on macOS and iOS. Payments will still need to be authenticated using a fingerprint-enabled iPhone or the Apple Watch.

When customers are browsing on supported websites – such as Crate and Barrel and lululemon – an Apple Pay button will appear. It will work in a similar way to Apple Pay on apps.

Previously, to use Apple Pay iPhone users could store their card details into the contactless system and use NFC to tap and pay for goods in participating stores. Alternatively, they could use Apple Pay to buy items on selected iPhone apps.

Today’s announcement expands this to the web. People shopping on a website on a Mac, or via Safari on their phones, will get a notification on their iPhone to confirm the transaction, which this is done using TouchID.

 

Apple Pay will be limited to £20 until September, when payments up to £30 will be allowed

Apple Pay will be limited to £20 until September, when payments up to £30 will be allowed

This means users won’t have to manually enter credit card information on individual websites or store them online when buying goods because the payment – and security – is routed through the Apple Pay system.

The new features are due to start rolling out to the UK and US countries “soon” and WIRED has contacted Apple to get more information and details of supporting websites.

Apple Pay launched in the UK last year and brought the contactless payment system to stores including Boots, Costa, Lidl, Marks & Spencer and Nando’s.

More than 250,000 shops across the UK now accept Apple Pay, with Transport for London also supporting the payment method on its network. The UK was the second country to get Apple Pay after the service launched in the USA in October 2014.

 


Woollaston, V. (2016) Apple pay is coming to the web – but there’s a catch. Available at: http://www.wired.co.uk/article/apple-pay-web (Accessed: 12 July 2016).