03 June 2016
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.
If you'd like to have our top reads emailed to you every Friday, let us know by emailing email@example.com
Amazon helps competitors improve the online checkout experience
Industry experts estimate that cart abandonment is costing retailers billions every year in lost sales, as customers jump from one retailer to the next seeking out the easiest checkout experience. Amazon is expanding its Pay with Amazon feature to other retailers – a brave move which will help the online retailer’s competitors succeed.
Contactless dogs recruited to raise money for charity
No cash? No problem. Charities are exploring quirky new ways to collect donations in our rapidly growing ‘cashless’ society. The Blue Cross, a UK animal charity that helps sick, injured and homeless pets, has introduced ‘tap dogs’. The animals, including Smudge the golden labrador and Maverick the border collie, wear jackets with a card reader, meaning donors can simply tap their card to give a £2 donation.
Paymark launches Paypr app: is this the end of paper receipts?
The scramble to find and keep receipts is coming to an end for many Kiwi companies. Paymark has launched Paypr - the first system in the world to connect the entire payment process in digital form, from the card swipe at a merchant, to inputting the expense into your Xero accounting system. No more end of month hassles reconciling paper receipts for Paymark and Xero customers! The book-keepers (not to mention the trees) will be pleased.
Santander pilots blockchain enabled payments app
UK Bank Santander is using blockchain technology for international payments through a new app. Using touch ID, payments can be made from British pounds into US dollars and Euros. Currently in pilot phase, Santander plans to make the app available exclusively to Apple’s iOS customers by connecting to Apple Pay.
Visa announces new Olympic Games fashion statement
Payment is getting more and more fashionable. Visa has introduced a wearable innovation in time for the Rio 2016 Games – a wearable payment ring, which it is giving to Visa sponsored athletes. Wearers pay by simply tapping their ring at any NFC payment terminal.
How to get a customer for life
Findings from the FIS “2016 PACE Index” – a 10,000 customer, 10 country survey measuring customer expectations and importance of particular attributes against banks’ performance – has found that financial institutions must be prepared to meet customer expectations immediately. Consumers expect their banking methods to mesh with their daily lives and if a financial institution wants to be a customer’s bank for life, it must first meet all customer needs in today’s daily life, so that the customer thinks of the bank first, always.
*These articles cover a range of topics from broad payments industry news here and overseas. They do not represent the views of Payments NZ and are not endorsements.