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Weekly top reads

Industry news top reads 27 Nov - 3 Dec 2015

04 December 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.

If you'd like to have our top reads emailed to you every Friday, let us know by emailing

Top reads

Stressed about Christmas?
A Mastercard survey released this week has revealed that New Zealanders are expecting to feel less financially stressed this Christmas than they had in previous years, due to planned thriftiness. Women were more than twice as likely as men to purchase gifts for 16 or more people, and if you’re a friend or an extended family member you just might be missing out this year. The research is encouraging, says Mastercard, as it appears Kiwis are adopting sensible Christmas spending habits as they head into the holiday season.

PayPal cofounder backs mobile-first banking startup
A German startup backed by Peter Thiel (PayPal cofounder and early Facebook investor) wants to create the bank account of the future, and has announced a major European expansion. Number26 offers “mobile-first” bank accounts, which have only been available in Germany and Austria since the product first launched in January this year. Now the banking service will be expanded to include France, Spain, Ireland, Greece, Slovakia, and Italy. Number26’s goal is to create a true pan-European bank account, and the company is calling the rollout the “first step toward offering a borderless banking experience across Europe.”

Aussie payments gap
They’re pretty good at using contactless payments over the ditch but when it comes to mobile peer-to-peer payments, there is a significant gap in the Australian market. Just 13 per cent of Australians have transferred money using their bank's app, and only 1 per cent have used a third party app dedicated to mobile payments or a social media platform to send or receive funds. Visa’s new report looks at why.

Pan-European instant payments in Euro
The European Payments Council will be developing a scheme for instant payments across Europe with implementation targeted for November 2017. The new scheme will allow for credit transfers in seconds and will lay a groundwork for the uptake of mobile and person-to-person payments.

Who will be the biggest loser?
Due to a review by the Reserve Bank of Australia, banks and airline execs in Australia are bracing for millions to be slashed from the revenue they get from merchant credit card fees and surcharges. Draft reforms to payments regulation are due out this week. A survey by Fairfax Media has shown that the biggest losers from the changes are expected to be airline loyalty programs – although the industry is yet to quantify the effect.

Your money at your fingertips
You’ve probably heard about how fintech is changing the way consumers interact with their money. In Japan, a pub has installed a biometric payment system where customers simply place their thumbs on a small sensor, identifying them by their fingerprints and for even more security, their veins.

Payments lessons from Black Friday
What did the e-commerce industry in the US learn from Black Friday? That mobile phones are king. People shopping on mobile phones accounted for half of traffic to online stores on both Thanksgiving and Black Friday and more than a third of orders. See the other top takeout’s here.

Swatch and Visa team up
Another watch-based contactless payment option has entered the market thanks to a new partnership between Swatch and Visa. Similar to the Apple watch, the Swatch Bellamy will allow payments at contactless terminals, initially for Visa cardholders in US, Brazil and Switzerland only.


*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.

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