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NEWS
Tesco Bank/MasterCard in payments partnership
strategic digital payments agreement. The aim is to identify and deliver new solutions for customers when shopping with Tesco in-store, online and on mobile devices.
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Mark Loch, Digital Wallet and Group Payments Strategy Director, Tesco Bank, says: “We want to make shopping at Tesco as simple and easy as possible, whether that’s in store, online or on your mobile device. This agreement with MasterCard will allow us to utilise the expertise of both organisations to ensure paying at Tesco couldn’t be easier.”
In addition to rolling out contactless payments, and thus being onboard with Apple Pay, the retail giant has recently developed its own mobile payment option. PayQwiq allows shoppers to store their debit card and Tesco Clubcard details and pay for items up to £400 (compared to Apple
WB21 announces Bitcoin acceptance
a method of payment and transfer. Customers can now send and receive Bitcoins to make real-time deposits in any of the 18 currencies accepted by the venture.
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WB21 is comprised of a number of financial institutions licenced in various countries around the globe. The first of its kind was founded in Palto Alto, California in 2014. It has since been incorporated in Switzerland, London and Hong Kong.
“A bank accepting Bitcoin is quite unusual, however it makes total sense for us and provides huge benefits to our clients,” says WB21 founder and CEO Michael Gastauer. “The problem some of our clients face is how to make deposits if we don’t maintain a local account in their country. By accepting Bitcoin, our customers can instantly transfer funds to their WB21 account from any
igital bank WB21 is adding Bitcoin as esco Bank and MasterCard have announced a Pay’s £30 spending limit). Scott Thompson
country in the world.”
Bitpay will act as the payment processor and the firm reckons that the initiative is “paving the way for exciting changes in online banking…Consumers with Bitcoin don’t have to be limited by the country-by-country limitations of legacy payments - and now WB21 will allow them greater flexibility for making payments in up to 18 different currencies.”
The bank is still awaiting licence approval from the Financial Conduct Authority in the UK, after applying in February.
Alex Hamilton
www.ibsintelligence.com © IBS Intelligence 2016
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