“In the third week of September 2014, thousands of people organised themselves into neat lines that snaked along the city blocks of New York, Seattle, and London. Sleeping in cardboard boxes, or keeping wakeful vigil through the night, they were participants in a biennial ritual”. This description written in The Atlantic , was not, as you might think, a description of some religious ritual or of the public reaction to the latest One Direction album.
I was talking about the internet of things again today, and realised that I have a grand vision of the not too distant future where everything communicates with everything. We have chips as tiny as nanodots inside every brick, pavement slab, tyre, wall, ceiling … you name it. We have more intelligent chips inside car engines, visual entertainment systems (the TV is no more), wearable devices from rings to necklaces to bags to shoes. Everything is communicating with everything and our devices are all attached to us through the blockchain.
The SWIFT Institute announces the availability of new research that for the first time investigates the consequences of outsourcing different types of services by mutual funds in Europe.
Only 40 per cent of UK consumers would still rather use their bank for international money transfer services than any other available platform, according to research from FXcompared Intelligence, the research division of FXcompared. This lack of a preference for bank-based transfers is seen across a range of currency transaction values.
Dave Hobday, MD of Worldpay UK, said:
“We know that 10% of Brits don’t carry any cash on them, so if you’re only taking cash payments, that’s one in 10 potential customers who will never consider shopping with you.
“When all the recent talk is around technology making payments fast, secure and convenient, notes and coins increasingly seem like something our children will laugh about in the future.
Germany's Postbank is to run an internal pilot of an NFC mobile payments app operating in a Host Card Emulation environment.
Postbank employees participating in the project will be able to use their Android smartphones at the checkout to make contactless payments with a tap of their phone at the cash register.
The technology, supplied by Worldline, includes the use of digital tokens and one-time keys to protect customer card data.
Mobile payments company Square is to open its fourth global hub in Melbourne, Australia, to drive sales of its Register tablet POS.
The US-based company has hired former National Australia Bank and Visa executive Ben Pfisterer to head up the Australian division. At Visa, Pfisterer led the card scheme's innovation and emerging products unit.
He says that Square is looking to tap in to the entrepreneurial spirit of Australia's small business community.
Tullett Prebon Information (TPI), a leading global provider of financial market data, has won Best Data Provider (Broker) at the Inside Market Data awards for the fifth year in a row.
The Inside Market Data awards recognise excellence within the market data industry. The winners, voted for by data consumers within the global banking and financial services sectors, were announced at a ceremony held in New York on Wednesday, 20 May.