This Week in Payment News – February 4 to 8

February 7, 2019

Every week there seems to be a theme in the world of payments, be it technology upgrades, companies extending their customer reach, or even last week’s focus cashless sports events. This week though, with news coming in from Vogue and the changing ambiance of bank branches, the theme is swaying towards making payments look better. Interested in what we mean? Find out more below!

1. Vogue melds editorial and e-commerce with launch of new sub-brand VogueWorld

Do you ever find yourself flipping through the pages of a magazine, wishing for an easier way to purchase the items you see? If so, this news might be for you! American Vogue debuted VogueWorld this week, a digital sub-brand of Vogue that combines their street style content with ecommerce. VogueWorld will live both on, and the brand’s current app will be rebranded to VogueWorld. This solution will make it easier for viewers to shop their favourite street style looks, and bring together the world of ecommerce and fashion magazines that we’ve rarely seen before.

2. An increasingly cashless world is forcing banks to improve the penalty box ambiance of their branches

The days of cold, uninviting bank branches may soon be numbered according to this headline! As the use of cash declines and fewer Canadians need to go into their local bank branch, banks are looking at their interior styling as a way to make their locations more welcoming for those who enter. Featured in this article is a branch of RBC and how they switched their design into a more bright and airy space!

3. Debt takes a holiday: Canadian overspending drops this holiday season as more shoppers stick to their budgets - RBC poll

Did you stick to your holiday budget this year? According to a recent RBC Post-Holiday Spending & Savings Insights poll, overspending dropped significantly last holiday season, as Canadians stuck to their shopping budgets. The biggest drop in spending happened in the age group of 18-34 year olds, who cut their overspending by almost $200! Make sure to check out this article to learn more.

4. Cheques to be excluded from UK's New Payments Architecture

We write about the death of cash fairly regularly, but rarely do we mention cheques, so this headline caught our eyes! Cheques in the UK are facing their demise, as the New Payments Architecture program has decided to channel their investments into other funding. Ten years ago, the idea to phase out cheques in the UK was met with resistance, so it will be interesting to see if it sticks this time around!

To learn more of the latest headlines in the payments industry, take a look at our articles from January 28 to February 1 and January 21 to 25.

The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed. 

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This Week in Payment News – February 11 to 15
This Week in Payment News – February 11 to 15

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This Week in Payment News – January 28 to February 1
This Week in Payment News – January 28 to February 1