11 September 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 email@example.com
A review of our changing payments landscape
Payments NZ has conducted an environmental scan of the global payments ecosystem, including current trends and future influences. The findings have been consolidated and analysed in our report 2015 Environmental scan report: Our changing payments landscape. You can now read a summary of those findings on our website.
Why banks are innovating for short term gain…
To some extent banks really are highly focussed on short-term innovations, not because they are afraid of digital disruption, but because it allows them to plug gaps in their services, says Danny Gilligan, managing director of Reinventure Group.
A 200-year old start-up?
During the six months he has been running the bank, Westpac Banking Corp chief executive Brian Hartzer has been trying to get Westpac to think and act like a 200-year-old start-up. He says the notion of "agile deployment" is the way to go and buzz words like "componentisation", "platform as a service" and "90-day drops" are common terms used in Westpac’s IT department.
And in wearables news this week, check out these two wearable innovations from Singapore and the UK:
Singapore commuters paying a new way
Commuters in Singapore are testing a contactless wristband, the Sony SG50 SmartBand – this new way to pay can also be used at a number of retail outlets including food and beverage merchants and libraries.
Payments technology in a jacket
Scottish knitwear brand Lyle & Scott has developed a jacket with Barclays' bPay technology in the cuff. Barclays has been pushing the edge of payments tech for some time and the jacket is the next in a line of inventions including a sticker you can slap on your phone, a key fob or a black wristband.
What’s up with cash?
We have some nifty new notes coming into circulation soon, but how much cash are we actually using, and is all this talk of becoming a cashless society actually going to happen? Last year we looked as what was happening with cash in New Zealand - you can see our findings here, which we’ll be updating in the near future. To hear what New Zealand Bankers' Association chief executive Kirk Hope had to say about cash in New Zealand this week, click here.
*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.