31 July 2015
Below are our top reads from the last seven days of industry news. Every Friday we’ll publish our picks from industry developments, stories and announcements right here so you can keep you up to date with what’s happening in payments here and overseas.
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New payments platform for UK government services
The UK’s Government Digital Service is in the midst of creating a new payments system that will provide a standardised way to take payments from citizens for online public services. This will play a key role in its government-as-a-platform (GaaP) strategy. At the moment, every service that requires a payment – such as paying tax, buying a passport or applying for a permit – has to use its own payment system.
Kiwis ahead of the game
Kiwis are keen to see the NZ launch of the Apple Watch with some prominent companies like Air New Zealand, Westpac, and BNZ releasing apps for the device before a release date was announced. Xero expects to release its app in September. But not everyone’s so sure that the watch will be popular. Apple watch went on sale at three Noel Leeming stores this morning.
ApplePay predictions from a Kiwi abroad
A Kiwi PayPal employee in the UK has shared his top predictions for the further roll out and growth of ApplePay. He pays special attention to how it will affect P2P payments, stating that it could work something like AirDrop in that you “select a nearby friend, choose how much money to send them, and they then accept the transfer.”
CurrentC is a smartphone-based payment system backed by many of the biggest retailers in the States and will start to become available to the U.S. public in August, according to Bloomberg. CurrentC doesn’t rely on wireless NFC like its competitors but instead involves the customer scanning a barcode on a retail terminal to initiate payment.
A welcome disruption
The new wave of tech flowing through the banking sector is the biggest (and most useful) cause of disruption, according to Co-Operative Bank chief executive Bruce McLachlan and BNZ head of digital Stephen Bowe. Though not often strived for, disruption can be the by-product of a continuous push for improvement. According to BNZ’s Stephen Bowe, “the real disruption is likely to come now in the payment space." And smart phone apps are proving a huge step forward for customers in managing their finances.
Get your subs even quicker
Subway has teamed up with PayPal to create a new app that allows Subway customers in the U.S. to build their sandwiches using their smartphones, pay ahead of time (or while in line) then pick up their bag and run when they arrive at the store. The app has already seen some good organic growth and (according to TechCrunch) should arrive in NZ within the year.
Who do Americans trust more to deliver financial services?
This infographic shows where Americans are placing their trust when it comes to financial services. Many have confidence in leading tech firms like PayPal, Google, Amazon and Apple.