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The card brand reports one out of every five transactions are contactless transactions via smartphones, bracelets and rings; and 54% of the purchases inside stadiums are contactless.
The average transaction size is about $57, with 3,500 point of sale terminals and 1,000 mobile concessions outfitted with contactless payment technology.
The card brand's latest patent covers a system that supports anonymous transactions over a blockchain while still maintaining tracking for risk management.
There is a need for a system in which transaction details may be posted publicly to ensure accountability, while providing anonymity outside of compliant parties for use cases such as gifting, according to Mastercard.
Payments attack stress test
Saying a disturbance in payments would be harmful to the entire economy, the Bank of England will put financial service providers and banks through a stress test to determine their ability to handle different types of cyberattacks, reports Tapscape.
The Bank of England will test defenses against attacks and how long it can take the bank to restore payments, databases and other functions, the site reports.
High tide for payments
Digital bank Tide has partnered with Paypoint to allow customers to use a network of 29,000 stores in the U.K. to make deposits.
This will give the bank a larger network than the U.K.'s banks, post offices and supermarkets combined, reports Finextra.
The move is designed to increase the bank's appeal to micro-merchants that still transact heavily in cash by giving these stores wider access to locations for banking services.
From the Web
Amazon ramps up gig economy with Delivery Service Partners fleet program
Yahoo Finance | Thu June 28, 2018 - Amazon has announced a program to help entrepreneurs build their own delivery fleets, taking internet economy opportunities to a new level for aspiring small business owners.
Starbucks CFO Scott Maw to retire in November
CNBC | Thu June 28, 2018 - Starbucks said on Thursday that Scott Maw, its CFO and executive vice president, will retire on November 30. The coffee chain already has begun an external search for Maw's replacement. Maw began working for Starbucks in 2011 and was appointed CFO in February 2014. After his retirement, he will assume a role as a senior consultant for the company through March 2019.
Former ICE Lawyer Who Stole Immigrants’ Identities Gets 4 Years in Prison
The New York Times | Thu June 28, 2018 - A former top lawyer for Immigration and Customs Enforcement was sentenced Thursday to four years in prison for stealing the identities of seven people in immigration proceedings and purchasing goods through accounts in their names, federal officials said.
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U.S. Bank using Alexa, Siri — but not for payments
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Fifth Third expects $200M gain from sale of Worldpay shares
The Cincinnati company sold 5 million shares in the payment processor, as it continues to scale back its ownership stake.