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Weekly top reads

Industry news top reads 28 Apr - 4 May 2017

05 May 2017

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 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 connect@paymentsnz.co.nz

Top reads 

HSBC Australia launches Apple Pay
HSBC Australia has announced this week that their Mastercard and Visa credit cards can now be added to Apple’s mobile wallet. In the coming weeks they will also be adding HSBC debit cards. Apple has also revealed that over 20 more US banks have recently gained official Apple Pay support. In March four Australian banks were denied permission to collectively bargain with Apple and boycott Apple Pay.

Barclays opens biggest fintech centre in Europe
Barclays has opened an innovation centre in London for its in-house teams and 40 co-located fintech startups. The new Rise facility will host events such as hackathons and workshops, and is designed to develop new innovative ideas for the financial services sector. According to Jes Staley, Barclays Group chief executive, through Rise they will be able to “actively experiment with emerging technologies, and spot early trends and new markets as they form.”

Kiwis forecast mobile payments and cash usage
Mastercard’s annual survey indicates that over two-thirds of New Zealanders do not carry cash, half believe we won’t be using cash in ten years’ time, and 38% believe retailers need to do more to embrace new payment innovations. One in ten respondents have used a cloud-based or digital wallet when shopping online, and 59% forecast mobile payments will be the next payment technology to take off.

Australian digital wallet by Shopify & Zipmoney
Zippay, a brainchild of Zipmoney, is an online and in-store digital wallet that gives users access to funds for shopping so they can buy now and pay later. Zipmoney currently processes Shopify’s merchant payments, but with the launch of Zippay hopes to expand further. According to Paco Suro, Shopify’s GM Payments, Zippay will provide great value to merchants and customers as they’ve seen a huge uptake of alternative payments at checkout due to customers seeking better ways to pay.

Facebook gets physical with rewards programme
‘Facebook Rewards’ allows users to scan a personalised QR code that gives them discounts and bonuses when purchasing products at certain physical shops. Facebook said it had been testing the service for the past few months, and aims to “help businesses connect with customers where they are.” While the rewards could benefit users and merchants, the feature could also give Facebook more data on who buys what where.

Digital personal advisors in the future of banking
In this article, Derek White, BBVA’s global head of customer solutions, talks about technology advances in the digital banking sector and how they could improve our everyday lives. For example, an AI robo-advisor which acts as a personal financial consultant to automatically manage your finances. He says such a future would add value for consumers, saving them time and improving their banking experience.

 

*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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