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The Challenge for Retailers – Building an Open Payment Platform
In the last decade, contactless technologies, the mobile Internet and always connected mobile devices have significantly changed the way consumers consider their shopping experience. Consumers are also looking for seamless simplicity, this is driving retailers to define new user experiences, with the keys to this being frictionless transactions and omnichannel options for the consumer. The [...]
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Infographic: 16 Blockchain technology disruptions
Blockchain technology is probably one of the most impactful discoveries in the recent history. After all, it has a massive potential to change how we handle online transactions. Despite some sceptics, the majority of experts agree that blockchain has the potential to disrupt the banking and financial industry, amongst others. To put it simply, blockchain [...]
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World Bank report shows financial inclusion on the rise
Financial inclusion is on the rise globally, accelerated by mobile phones and the internet, but gains have been uneven across countries. A new World Bank report on the use of financial services also finds that men remain more likely than women to have an account. Globally, 69% of adults – 3.8 billion people – now [...]
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Fraud fears rise as cashless society becomes reality
Despite well-reported reductions in the use of cash across the country, new research from international legal practice, Osborne Clarke, reveals that UK consumers are now more concerned than they were a year ago about incidents of fraud and security breaches should mobile payments completely replace cash in the future. UK consumers have been open to [...]
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China Construction Bank opens a branch only managed by AI robots
China Construction Bank (CCB), the China’s second largest lender by assets, has opened an unstaffed, self-service bank branch in Shanghai this week, run by pure technology including facial recognition (FR), artificial intelligent (AI) and virtual reality (VR). Hyped as a first for the Chinese banking industry, the Beijing-based bank says it has already installed 1,600 smart machines [...]
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