Weekly Headlines 27 August 2021

27th August 2021

UK to roll-out contactless £100 spending limit in October

Iceland’s central bank want new domestic retail payments tool

Worldline and Bitcoin Suisse launch an omnichannel crypto payments solution for Swiss merchants

PayPal extends crypto service to the UK

NatWest now offering Mastercard’s Pay by Bank app

 

UK to roll-out contactless £100 spending limit in October

The UK roll-out of the new £100 spending limit for contactless card payments will begin from 15 October 2021. The decision to raise the contactless limit from £45 to £100 was made by HM Treasury and the Financial Conduct Authority following a public consultation and in discussion with both the retail and banking sectors. It follows on from the successful increase in the limit from £30 to £45 in April 2020.

 

Iceland’s central bank want new domestic retail payments tool

Iceland’s central bank wants new domestic retail payment tools that would reduce its reliance on global card giants. The effort, to be modelled on Sweden’s mobile payment app Swish, is driven mainly by national security, as the nation’s financial meltdown in the wake of the 2008 financial crisis exposed the risk that global credit card giants could block credit cards issued by Icelandic banks – Visa and MasterCard stopped using the Icelandic krona in the settlement of credit cards in 2008, when Iceland was forced to turn to the International Monetary Fund for help.

 

Worldline and Bitcoin Suisse have launched an omnichannel crypto payments solution for Swiss merchants

Worldline and crypto service provider Bitcoin Suisse have launched an omnichannel crypto payments solution for Swiss merchants in the Worldline network. All merchants in Switzerland using the Worldline point-of-sale and e-commerce payment services can let their clients pay in Bitcoin and Ether as easily as with other traditional payment options.

 

PayPal extends crypto service to the UK

PayPal has extended its crypto service to the UK, the second country following the US, where it launched earlier this year. UK users can buy, hold and sell cryptocurrency from Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

 

NatWest now offering Mastercard’s Pay by Bank app

NatWest is now offering Mastercard’s Pay by Bank app to its mobile banking app users across the NatWest Group brands: NatWest, Royal Bank of Scotland, Ulster Bank and Coutts.

 

PSE Innovation Videos

Codat – Opportunities for Open Finance

In this full length conversation with Yasamin Karimi from Codat we discuss the benefits of Open Finance to acquirers as they seek to onboard new customers and carry out credit checks. Yasmin highlights the emerging opportunities of combining accounting, Open Banking, and commerce platform data to create a rounded view of where a business has been, its current cash position and its order pipeline.

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