Breaking News
Fujitsu Comment: Visa Considers Incentives for UK Firms to go Cashless
Anthony Duffy, director of retail banking at Fujitsu UK & Ireland:
“Visa’s plans to incentivise businesses to go cashless is very interesting, but, at Fujitsu, we expect that much of the devil will lie in the detail.
The proposal raises some immediate questions for customers, businesses and government alike. For example, many people like cash, as it provides anonymity and cannot be overspent. How will these people respond to being told by a business that they can no longer use notes and coins? And what about the near three million UK citizens who don’t have bank accounts and transact exclusively in cash? How many of these customers will have no choice but to take their business elsewhere?
How will Visa enforce the incentive? Will it police businesses that agree not to take cash and/or will it have audit rights? And what is the government’s and regulator’s view – after all, it is illegal to refuse legal tender when it is offered to settle a debt, such as for a restaurant meal or a taxi ride. In England and Wales, legal tender comprises only notes issued by the Bank of England notes and coins issued by the Royal Mint.
It’s early days for Visa’s initiative. It’s a revolutionary idea which will provoke a lot of industry and media debate. We shall watch this development with interest”.
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Paysafe and BIG Form New Esports Partnership with PaysafeCard as Official Payments Sponsor
After an impressive start to the new season, Berlin International Gaming (BIG) is announcing another major milestone: PaysafeCard, the popular eCash solution by global payments platform Paysafe (NYSE: PSFE), is joining the Berlin-based esports organization as a Premium Sponsor and official Payment Partner. The collaboration spans BIG’s Fortnite, Counter-Strike 2, and Trackmania teams, featuring prominent jersey placement, integrated branding, and community-focused activations. In addition, PaysafeCard will power payments at the official BIG shop, allowing fans to complete purchases easily and securely.
How Many MoneyLive Events Have You Done?
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EXCLUSIVE: “Irish Eyes on London” – Enterprise Ireland in ‘The Paytech Magazine’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
AutoRek & Microsoft: Why Strategic Partnerships Matter in Finance
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Cathay Pacific Expands Global Partnership with Adyen
Adyen announced the expansion of its longstanding partnership with Cathay Pacific with Adyen now providing direct acquiring services for the airline
MAS Partners Industry to Develop AI Risk Management Toolkit for the Financial Sector
MAS announced the successful conclusion of phase two of Project MindForge[1], which culminates in the publication of an AI Risk Management Toolkit for the financial services sector
Novidea Releases Updated Version of Its Insurance Management Platform with Significant Enhancements Across Policy Administration, Bordereaux, Claims and Accounting
Novidea announced its latest product release which will enable users to reduce manual rework, improve data integrity, and accelerate high-volume processing