I usually steer clear of religion and politics at work but here’s an eye catcher. Where my family goes, down in sunny Florida, they already have perfected ACH transactions. I like it because I don’t really carry cash, hate checks, and I don’t need an audit trail to establish my presence. Just push the payment every week and away we go.
Here we see the Church of England passing terminals to process “tap and pay” payments. Nice use case! And with interchange in Europe at 30bps, why not?
• Church of England is ditching collection plates and trialling contactless card payments from worshippers
• Hand held devices will be passed around the pews
• Ten larger churches will have static terminals at the entrance.
It does not look as if Westminster Abbey is in the test, perhaps it is too regal, but this is a no-brainer. Last year, UK processed £25billion, so it will be fun to see the latest technology in century old European cathedrals!
Overview by Brian Riley, Director, Credit Advisory Service at Mercator Advisory Group
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