This Week in Payment News - July 2 to July 6

July 5, 2018

The world of payments is constantly growing and changing, but some of the news that made headlines this week is truly unique.

From a taxi service accepting singing as a payment form, to a new credit card bring created from plastic recovered from the oceans, this week brought us no shortage of eye-catching headlines!

1. A new taxi only accepts singing as payment

We’re always looking for new and exciting innovations in the payments space, but this is a first even for us! In Finland, a clean energy company is opening up a temporary taxi service using electric cars that will be taking payments through song. Riders can sing their way to and from a music festival for free, making a positive mark on their wallets and the environment.

2. Canada Gets Access To QR Code Mobile Payments With UnionPay

UnionPay has already made waves in the Canadian market, as more and more Chinese tourists visit every year. Now, UnionPay is bringing quick response (QR) code payments to Canada through merchants that already accept the card brand. With over 90 per cent of Canadian ATM’s and 160,000 merchants accepting UnionPay already, this new payment form is likely to be a hit!

3. American Express Joins Parley, Aims to Rid Ocean of Plastic by Using It In Cards

Have you ever stopped to consider how much new plastic is used simply in the creation of credit cards? American Express has, and in their new collaboration with Parley, they’ll be creating a credit card made of plastic recovered from the ocean. This interesting initiative and partnership could spark a big change in how plastic cards are created, so make sure to read this article for more information!

4. Survey: Malaysians more confident of going cashless

How long do you think you could go without cash? According to a recent survey by Visa Inc. six in 10 Malaysians polled said that could go without cash for an entire day, and 41% said they could last three days. This and even more interesting information came out of this survey, so it looks like the future of a cashless society in Malaysia is looking bright!

5. Starbucks to increase number of cashless stores in Korea

Starbucks is already aware of the potential of cashless payments, with one of the most popular payment apps on the market, but now they’re taking it a step further by introducing cashless stores. Over 100 Starbucks locations in South Korea are getting rid of their cash registers and depending solely on credit cards and mobile payments starting July 16th. With such a big shift to cashless stores internationally, it will be interesting to see if Canada will be up next for cashless locations!

Curious about other recent changes in the world of payments? Make sure to take a look at more of our weekly payment recaps from June 25 to June 29 and June 11 to June 15.

 

 

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This Week in Payment News - June 25 to June 29
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