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BACKCHAT / DIARY
Backchat
Pay is struggling to gain traction, following high profile launches in the US, UK, Australia, Singapore, Canada and China. Timetric research shows that the service accounted for $10.9 billion in contactless transactions in the past year.
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Most of these were made in the US. But even Stateside, progress has been slow. An Auriemma Consulting Group (ACG) survey shows retailers that accept Apple Pay et al are still hard to find in the US. And even when they find a store that is onboard, only one third of mobile pay users buy items that way, most frequently citing that they simply forgot. In the UK, meanwhile, Apple Pay has fallen foul of the increasing popularity of contactless cards, whilst in China it is up against such homegrown heavyweights as WeChat and Alibaba.
The award for UK banking technology’s worst kept secret of 2016 goes to… It’s finally official that one of Barclays’ blockchain team members is departing to join a new FinTech consultancy called 11:FS. Simon Taylor, formerly VP of Entrepreneurial Partnerships at Barclays, will be lining up alongside Financial Services Club Chair Chris Skinner, former head of digital banking at Gartner David Brear, and Mondo co-founder Jason Bates. The venture will offer a range of research, benchmarking and transformation programmes for bank execs.
Farewell then
Mondo...sort of. The UK challenger bank is changing its name, after being legally challenged by an undisclosed company. And it is inviting suggestions from the general public, although Banky McBankface is sadly off the table. Bailey Kursar, Marketing at Mondo, says: “It can be painful to change the name of a product, but – being the optimists we are – we think this is a great opportunity to come up with something even better.” We like ‘M’, short but sweet, although possibly invites a cease and desist letter from the producers of the James Bond movies.
Stop us if you’ve heard this one before…The UK is on track to become a cashless society within 20 years, according to research by London & Partners. A survey of 2,077 consumers shows that 68% believe cashless technologies will completely replace physical money by 2036. Three quarters of Londoners said notes and coins would disappear within 20 years.
2,077 people does not a revolution make. Tune in again next month for more ‘who are the people doing these surveys?’ cash is dead research.
IN THE NEXT ISSUE Feature Focus: Program Management & Quality Assurance alling all the ‘RIP cash’ evangelists…Bad news, we’re afraid. Apple
Diary
AUGUST 24-25: BankTech Asia, Jakarta
www.banktechasia.com
SEPTEMBER
8-9: FinovateFall, New York
http://fall2016.finovate.com
OCTOBER
5-7: BAI Retail Delivery, Chicago
www.bai.org/retaildelivery
18-19: FinDEVr Silicon Valley
http://findevr.com
23-26: Money20/20, Las Vegas
http://money2020.com
NOVEMBER
8-9: BankTech Asia, Kuala Lumpur
www.banktechasia.com 15-18: Payments International 2016, London
www.icbi-events.com
For further information and a comprehensive listing of industry events, visit our website:
IBS Intelligence is a prominent media partner of many fintech industry events worldwide. If you are interested in a media partnership with us and marketing opportunities, please contact:
www.ibsintelligence.com © IBS Intelligence 2016
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