• Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine
placeholder-661-1.png
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine
placeholder-661-1.png

mPos technology: unlocking possibilities for business

Contactless transactions are on the peak in the UK. Nine out of ten card transactions which were made in 2020 were all contactless. This had accounted for 57 per cent of all debit card and 35 per cent of all credit card transactions.

The FCA has made an announcement in response to demand, and the sums of money moving around, that the single transaction limit will be increased from £45 to £100. And also, the threshold for multiple contactless payments is to be increased from £130 to £300. This launch seems to bring a spark of concern on security, such as in case of a stolen card. However, banks have increasingly effective ways to detect fraudulent and to block a card.

YOU MAY ALSO LIKE

Wall Street Banks Advance After Fed Stress Test Clears the Path for Capital Returns

Ireland Moves to Conclude AIB Stake Sale, Marking Final Chapter in Banking Bailout Era

The boom in contactless payment started after the pandemic set in. Shifts in customer’s choices had led to an increased demand for more convenient methods of payment. In 2017 itself, card payment overtook cash in the UK. Card has now become the default for Brits down the shops. Barriers to payment need to be alleviated or removed entirely. Or else it leads to miss opportunities and businesses will feel a pinch in revenue. In the UK, as the unlocking is increasing day by day, the demand for shopping will also be increased.

Vendors have many options such as mobile point of sale (mPos). This is a system that has come on leaps and bounds in the past few years. A mPos device can go anywhere, and take payments for a vendor. This makes it ideal for anyone that works on the move, whether that be a food truck, or a mobile mechanic etc. These are available, in SumUp’s case, with unlimited data plans to maximize the portability of the device and medium. Payment technology is ever-evolving and mPos is at the forefront of the cash to card progression. All of this was in development during the pre-pandemic and a year of pandemic has nudged us towards the card payment. SMEs will continue to benefit from the rapid developments in payment technology. Customers now expect to have the option to pay by card and it’s important that vendors keep up with this demand. Reliable contactless systems will keep customers happy, and help keep a business improving.

Tags: BankingContactlessDigital BankingDigital Payment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result

Recent News

Brazil’s C&M Software Resumes Operations After Cyberattack With Central Bank Approval

Brazil’s C&M Software Resumes Operations After Cyberattack With Central Bank Approval

Global Initiative Aims to Ease Sovereign Debt Strain Amid Crises

Global Initiative Aims to Ease Sovereign Debt Strain Amid Crises

Rand Strengthens Amid Inflation Target Optimism and Bond Rally in South Africa

Rand Strengthens Amid Inflation Target Optimism and Bond Rally in South Africa

Wall Street Banks Advance After Fed Stress Test Clears the Path for Capital Returns

Wall Street Banks Advance After Fed Stress Test Clears the Path for Capital Returns

Traditional Banking Meets Digital Assets: BBVA’s Bold Foray into Cryptocurrency Advisory

Traditional Banking Meets Digital Assets: BBVA’s Bold Foray into Cryptocurrency Advisory

Ireland Moves to Conclude AIB Stake Sale, Marking Final Chapter in Banking Bailout Era

Ireland Moves to Conclude AIB Stake Sale, Marking Final Chapter in Banking Bailout Era

Global Business Review is a online print magazine focusing on the updates and information about on emerging markets, Finance, Banking, Technology. Global Business Review provides news, features, analysis, commentary, and interviews from industry across the globe.

Recent News

Brazil’s C&M Software Resumes Operations After Cyberattack With Central Bank Approval

Global Initiative Aims to Ease Sovereign Debt Strain Amid Crises

Rand Strengthens Amid Inflation Target Optimism and Bond Rally in South Africa

Wall Street Banks Advance After Fed Stress Test Clears the Path for Capital Returns

Traditional Banking Meets Digital Assets: BBVA’s Bold Foray into Cryptocurrency Advisory

Categories

  • Banking
  • Business
  • Events
  • Finance
  • Blogs
  • Fintech
  • Forex
  • Insurance
  • Technology
  • Videos

Social Media

COPYRIGHT © 2020-2025 GLOBAL BUSINESS REVIEW MAGAZINE LLC - ALL RIGHTS RESERVED

  • About Us
  • Contact Us
  • Advertise With Us
  • Leadership report
  • Privacy Policy
  • Disclaimer
  • Terms & Conditions
No Result
View All Result
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine

Copyright © 2025 Global Business Review Magazine - All Rights Reserved.