10 March 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 firstname.lastname@example.org
Trade Me launches Ping payments
Trade Me is rolling out a new payments solution called Ping in the coming months and according to their Head of Commercial, Jimmy McGee, it will remove a pain point for many users. Ping will allow customers to make instant bank payments and pay with stored credit. Transactions will also include Trade Me's recent Buyer Protection Initiative. Trade Me's current payments system, Pay Now, will be removed once the new system had been fully rolled out.
Simon Tong appointed to ASB executive team
Simon Tong has been appointed Executive General Manager Technology, Innovation and Payments, effective from 27 March. This position reports directly to Chief Executive Barbara Chapman and is part of ASB’s executive leadership team. Mr Tong joins ASB from Fairfax Media where he was Managing Director, and prior to that he was CEO of Paymark between 2006 and 2013.
Pay-by-voice now available for Royal Bank of Canada customers
RBC customers can now transfer money by asking Siri, Apple’s virtual assistant. Using Apple’s iPhone or iPad, customers can say, “Hey Siri, send Dave $1” and the virtual assistant will confirm the name from their payee list and send the amount. RBC is also working with Apple to introduce e-transfers using iMessage.
Customers expect faster and smoother payments
Payments – particularly faster payments – continue to increase in popularity across the world. Payment systems around the world are also increasingly using proxies, in which mobile phone numbers, email addresses or national ID numbers are used to identify who to send money to instead of bank account details. These trends are responding to modern day customer expectations, a topic which we will be talking more about at The Hub later this month.
UK research shows millennials happy to donate through mobile apps
Moneymailme surveyed 1,000 18-25 year olds and found that 72% of them are willing to use mobile apps for charity giving. Almost half of them believe physical money will be obsolete in 20 years and 62% feel frustrated if they are forced to use cash. They also found that 74% of those surveyed already give to charitable causes indicating a strong social conscience and desire to help others.
Parking in Timaru made easier with PayMyPark app
Timaru District Council is set to adopt a new system to allow people to pay for parking on streets with parking metres using their smartphone. Already used by councils in Wellington, Tauranga, and New Plymouth, users will be able to open the PayMyPark app on an Android or iPhone, then pick the street and the amount of time they want to park for.
*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.