PointsPay®, a Loylogic Company, has unveiled its new innovation: a mobile-based payment system for the loyalty industry with a launch exclusive to Etihad Airways. By converting miles or points into usable point-of-sale (POS) currency, PointsPay® enables members to redeem their loyalty earnings at millions of merchants worldwide. For many years the loyalty industry has been […]
News In Brief 2015
03.08.2015. Edinburgh Fringe embraces contactless.
As well as Underbelly venues, the company’s kit will be deployed across a number of kiosks and cafes around George Square and Princes Street Gardens. Co-founder Robin Knox said: “The Festival is exactly the kind of event where speed of service becomes critical and contactless payment is so easy it can make all the difference. With the arrival of Apple Pay, too, many retailers and bars will be forced into adopting contactless systems, because their customers demand it.”
28.07.2015. Card transactions rise by 12 million in May
The number of debit and credit card transactions grew by 1.1 per cent last month to reach 1.093 billion, according to the latest figures from The UK Cards Association. Total card spending rose to £51.1 billion in May, up by 0.8 per cent during the month. Debit cards made up almost three-quarters (71.4 per cent) of card spending amounting to £36.5 billion.
Last month consumers made 124 million online purchases, up by 1.5 per cent on April, spending a total of £11.2 billion. Internet spending represented over a fifth (21.8 per cent) of total card spending. The average value of a card transaction dropped to £46.92 in May, down by over £1 compared to a year ago. This amount has fallen consistently since 2011, reflecting the increased use of contactless cards and the ongoing migration from low value cash payments towards cards.