Contactless Payment Limit Increased in UK, Bitcoin a Viable Alternative
The payment world has evolved from cash transactions into a cashless ecosystem, as customers want to check out and pay for their goods with as little friction as possible. Contactless payments are on the rise in various countries, and in the United Kingdom, the average contactless payment transaction limit has been increased by 50%. Regardless of this change, additional infrastructure is required for merchants who want to make use of this system. In the United Kingdom, card payment terminals are a very common sight, as less consumers use cash payments year over year. From a convenience....
Related News
Contactless payments are one of the hottest trends right now when it comes to revamping the financial industry in the near future. However, the payment method is only viable in a limited capacity right now, although more consumers will be able to use contactless payment options in the future. If everything goes according to plan, most of the New York public transportation system will go contactless in two years from now. When using public transportation, cash payments are one of the most annoying issues to deal with. While most countries will have other ticketing options available as well,....
The world of finance and technology is constantly evolving, and traditional institutions have to play catch-up in this game to stay relevant. Contactless payments have been touted as one of the most revolutionary financial innovations of the past decade, and many consumers are eager to be part of this experience. An upcoming test by BNP Paribas will experiment with contactless payment displays. Despite the appeal of contactless payments, this level of innovation in the financial sector slowly removes any human interaction from the shopping experience. Rather than chatting with the cashier....
This is quite surprising news, considering how several Bitcoin exchanges in the country have shut down in 2015. Consumers in Canada are looking for alternative payment options, as they seem to grow tired of cash payments. Contactless payments are doing quite well so far, and online payments are booming. But what is of real interest is how the usage of Bitcoin has doubled in 2015. Similar to most countries around the world, Canadian consumers are flocking to cashless payment options. That being said, the usage of cash is starting to decline in the country, albeit it is not going at a fast....
Amsterdam has introduced the “Contactless Payment Jackets” for beggars, an electronic payment system that allows people to donate to the homeless. Amsterdam Fully Embracing Digital Payments. Although the recent demonetization policies are mostly felt in developing countries where the economy is predominantly cash-based, developed countries are actually spearheading the movement. Most recently, the Netherlands have joined the ranks of developed countries like Sweden and Denmark in the war on cash. As a consequence of a society that relies heavily on banks and electronic payment systems, and....
Bitcoin payment processor Bitnet has indicated it is willing to implement block-increase proposals other than BIP (Bitcoin Improvement Proposal) 101. This makes Bitnet the third signatory of the industry letter supporting BIP 101 that indicates that it is open to alternative proposals. Bitnet co-founder and CTO Stephen McNamara told Bitcoin Magazine that he is still convinced that the block-size limit must be increased sooner rather than later. While the industry letter sent out in August of this year expressed support for BIP 101, which increases the block-size limit to 8 megabytes and....