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A digital transaction settlement system being developed by researchers working on Facebook’s Novi cryptocurrency digital wallet app could support up to 160,000 transactions per second, “about 7x the peak transaction rate of the Visa payments network”, according to a paper published by the research team. The 15-page paper, ‘FastPay: High-performance Byzantine Fault Tolerant Settlement’, describes […]

Banque du Liban, the central bank of Lebanon, is preparing to launch a central bank digital currency (CBDC) next year, the bank’s governor Riad Salameh has told a meeting of the Lebanese Depositors Association. The CBDC project will “help implement a cashless system” in Lebanon that will support the seamless movement of money both locally

The number of iPhone users globally that have activated Apple Pay has grown by 66m over the past year, from 441m in September 2019 to 507m in September 2020, according to a study published by Loup Ventures. The increase means that 51% of iPhone users have now activated Apple Pay, up from 48% last year.

The People’s Bank of China (PBOC) will keep a database of all transactions made using the digital yuan, China’s central bank digital currency (CBDC), according to China Daily. The PBOC’s centralized design means that it “will spearhead the country’s digital currency issuance and management system, which will control the issuance quota, and conduct unified technical,

Commuters on JR East train services in the Tokyo metropolitan area who pay for their tickets using a commuter pass stored on their Suica transit card will receive additional JRE loyalty points for travelling outside peak times from March 2021. The Japanese rail operator will reward passengers travelling on weekdays during a pre-rush hour “early

NFC mobile payments accounted for 25% of overall POS transaction volumes in Saudi Arabia in September, Saudi Payments reports. Overall, consumers in Saudi Arabia made more than 266m contactless payments, worth a total of SAR27.5bn (US$7.32bn), in September 2020 and more than nine out of ten POS transactions made in the country during September were

Nottingham City Transport (NCT) has become the first transportation operator in the UK city to roll out Nottingham Contactless, a multi-operator ticketing system that lets passengers use open-loop debit and credit cards and NFC mobile phones to pay for fares across multiple transportation operators. “The system automatically calculates the best fare for a customer based

The total global transaction value of purchases made using smart home devices is expected to rise from US$22bn this year to more than US$164bn in 2025, according to Juniper Research. “Increasing use of voice assistants via smart speakers for ecommerce, propelled by rising user and merchant acceptance, will drive a dramatic growth of over 630%