This Week in Payment News – July 8 to 12

July 11, 2019

This week in payment news is one of our most interesting varieties yet! From contactless collection plates to virtual card services, there’s something for everyone this week.  

1. Contactless collection plates used in York Minster for the first time

New contactless collection plates are now being used in York Minister for the first time at a Sunday service held by the Church of England. These contactless collection plates offered church-goers the opportunity to give to the Church in dominations of £5 and £10, alongside traditional cash donations. If you want to learn more about these collection plates, make sure to check out this article.

2. New edition of Monopoly ditches cash in favor of digital banker

Cashless payments have become a commonplace occurrence, but bringing them to board games is something new all together! Cashless Monopoly is now available to purchase, after initially being launched in the U.K. In this version of the classic board game, players use a voice assistant named Mr. Monopoly to manage all the buying and selling instead of paper dollars. Mr. Monopoly helps take care of paying rent, and will move money to an opponents account.

3. Visa and PayPal launch Instant Transfer in Canada

To help business owners access their money immediately, Visa and PayPal have collaborated to launch a new service! Instant Transfer, powered by Visa Direct, can instantly transfer funds from a PayPal account to a bank account via Visa Debit cards. Instant Transfer is currently available to a limited number of business owners, but will be generally available in Canada in the next few months.

4. Simplifying Acceptance of Virtual Cards for Businesses Everywhere

This week Mastercard launched a Virtual Card Receivables Service, which will help to digitize the reconciliation of virtual card payments for businesses of all sizes. Working with VersaPay, Mastercard is hoping to provide a solution that eliminate the manual process of reconciling incoming payment information. If virtual cards is something your business is interested in, don’t miss this interesting article!

If you’re curious about what else has been making the headlines this June in the payment industry, make sure to check out our recaps from July 1 to 5 and June 24 to 28.

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 – July 1 to 5
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