Barclays (and others) looking to catch up

I think it’ll go more like the Kinect business app they’ve been promoting which looks better than the normal app.

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Definitely could be nicer but there’s lots on offer compared to the UK version. Their debit card is a great example, it can hold multiple currencies - once you add a currency it appears as a sub-section of your normal current account.

I don’t think the QR code thing is super well adopted yet but it’s a far superior way to pay than with cards etc. I wish the UK would get more into it. PayPal have tried but I don’t think that’ll happen. It’ll need to be someone like Pay.UK (?) who do BACS and FPS.

*Edit - well that’s awkward. Why would you call yourself pay.uk without having that domain?

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I understand this sort of account is also planned for the UK.

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The name was obviously picked before they had checked available domains!

I don’t see how QR code payment is at all superior to NFC contactless, it seems clunky and awkward. The idea reminds me of the ill-fated CurrentC initiative. Hopefully it won’t catch on here!

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QR codes doesn’t require specific hardware.

Take China as an example, shops have QR code scanners in the POS they can scan, or a payment terminal that you can hold your phone over.

Smaller retailers can have a code that you scan to initiate payment.

I see QR as being somewhat superior and universal but I think for the UK it would need to be rolled out centrally by either Pay.uk or Visa/MC/Amex together for it to work.

Individual ones like Tesco isn’t gonna catch on. Plus our banking apps need to be significantly faster. Opening Alipay even on slow decides, it opens and is ready instantly, everytime, even with no internet connection, no loading or waiting.

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Probably not for the user. But if you’re trying to undermine the card processing rails or avoid some of the procedures that come with that (like the disputes process) then a QR system linked to faster payments might seem a reasonable attack vector.

(This is the problem for new payments rails: they need to sell themselves as more cash-like - so no charge backs - to merchants, whilst also maintaining a veneer of consumer focus).

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Exactly, that’s what I mean. For the customer, all the “hassle” (as the merchant would see it) associated with the card networks adds consumer protection, security and convenience.

Not for the merchant, but they do require a smartphone (plus data connection) for the consumer and they aren’t quite ubiquitous for older customers, etc.

We also already have all the necessary hardware for card payments at pretty much every merchant, so our current setup is better.

QR code payment in general is much more clunky and not generally well integrated with POS systems, etc so not as good as EMV contactless.

There is a (failed) cross-industry attempt to make it work here with “Pay By Bank App” (terrible name) but I’ve never seen a merchant offer it.

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Pretty much what o99 said. Also, it’s useful when the merchant you made the purchase at trades under a different name to the legal one, e.g. Bob’s Emporium Ltd T/A Beefy Burgers.

It’s not a killer feature but is not without its limitations. I’m not sure of the technical set up of the Wetherspoon app as regards card processing, but presumably all transactions are processed centrally and they only have one merchant number which has the location of H/O or whatever on rather than a separate merchant number for the pub in question.

The hassle for the business vs. the people who would care for such a thing has probably been looked at and they decided it was too much in terms of paperwork and admin time.

Plus the development and system needed to be scaled quickly (whilst they have had the order by app thing for a while, it was a relatively niche thing).

Where the government mandates restrictions and it puts the business in “use this or you do not get any business because you can’t serve punters at the bar” it focuses the attention on practicality rather than the finer details.

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There’s new technology called soft POS hitting the market which means merchants can take payments via contactless card or Apple Pay just via a smart phone too

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Yes, that’s pretty cool.

Bluetooth readers linked to phones or iPads were already very convenient, and soft POS will make taking payments even easier.

I can imagine lots of small business use-cases for in-home services and similar.

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