Contactless payments to account for 1 in 3 in-store transaction by 2020, report

contactless payments - debit machine

Payment cards and mobile wallets will reach $2 trillion in two years. Worldwide, in-store contactless payments transactions will exceed $1 trillion for the first time this year. This is according to recent data published by Juniper Research. The leading fintech analysts also estimate that, globally, in-store contactless monetary transactions will hit $2 trillion by 2020 and will represent 15 percent of the total point-of-sale transactions. Both card payments and mobile wallets are expected to drive the growing use of these payments. Even though both of these contactless payments will be…

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BNM dives into QR code payment services, calls itself a disruptor

QR code payment services - Bank Negara Malaysia

Bank Negara is taking on the many challenges associated with quick response codes in Malaysia. Bank Negara Malaysia (BNM) is placing a focus on rolling out QR code payment services. This is a part of a broader strategy to disrupt the traditional banking industry. At the Malaysia Fintech Expo, BNM specifically referred to itself as “the biggest disruptor in the room.” The bank referred to itself in that way as a part of a question its director of its payment systems policy department, Tan Nyat Chuan, asked in his keynote…

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