WEEKLY ROUNDUP - 07.05.2020

Your weekly fix for global fintech and payments news

Video banking is on the up, having seen increased demand and usage in recent months. With branch banking around the world much more difficult for many due to lockdown measures, more and more consumers have been turning to video banking as a way of keeping up with their finances. In further news, Visa have stated that contactless payments, particularly in the US, are at an all-time high, and mobile payments service MobiCash roll out their services to UK relationship counselling service charity, Marriage Care.

Our weekly round-up brings you a dose of some of the biggest news announcements from the past seven days so you can keep an eye on all that’s shaping our world this week.


  • Video banking on the rise during COVID-19 pandemic
  • Visa says contactless payments are soaring amid COVID-19
  • Marriage Care roll out MobiCash to enable charitable donations


Video banking on the rise during COVID-19 pandemic

Video banking is gaining increasing popularity, according to industry research company, RBR. In 2019, video teller machines experienced a spike in popularity as banks sought to blur the lines ever further between branch banking and online digital services. Now in 2020, video banking has seen another surge with nationwide lockdowns, and bank branches temporarily closed across the world. Video banking gives customers a personalised way of managing their finances remotely, with banks enabling customers to carry out a host of banking operations, including applying for products and services, undergoing a financial check-up, or chat to someone about their accounts.

Daniel Dawson, Associate at RBR, said: “In times of financial uncertainty combined with a need to avoid human contact, video banking technology offers banks the possibility to keep employees and customers safe, while continuing to provide financial services, as social distancing imperatives can be kept without losing the human element.” The technology is currently being used for a whole range of different services, from large amount withdrawals at South Africa's Nedbank, to mortgage advice at Bank of America, to debit card reissuing at Singapore's DBS.


Visa says contactless payments are soaring amid COVID-19

According to Visa, COVID-19 has shifted spending patterns, as contactless card usage reaches new heights. In the US, tap-to-pay transactions have grown over 100% year on year in everyday segments like grocery and pharmacy, with overall contactless usage in the seeing an increase of 150% since March 2019.

Through lockdown measures restricting cash usage, to persistent rumours that cash will transmit the virus, cash has seen a striking drop in usage across the world. In the US in particular, where despite contactless payments having seen low levels of adoption compared to other countries, there has been an increasing embrace of no-touch payments among consumers who are looking to limit interaction during checkout. With contactless card limits increasing across the globe, this surge in use of contactless cards are rather unsurprising.   


Marriage Care roll out MobiCash to enable charitable donations

Marriage Care, a UK relationship counselling service charity, are rolling out MobiCash, a mobile payment service, to all of their centres that provide counselling across England and Wales. Marriage Care have chosen to collect donations for counselling primarily using QR codes. Once registered, users will be able to make quick mobile donations by scanning QR codes placed on Marriage Care’s printed materials, shared digitally or from within the MobiCash app itself, eliminating the need to use cash.

Helen Jeffries, Head of Finance for Marriage Care, said: “After an initial pilot to assess the impact of the new technology on a small charity like ours, we are pleased to report that implementing it was relatively straight forward and it greatly simplified processing Gift Aid.” Steven Marsland, Business Development Director, MobiCash at Compass Plus, reiterated such sentiments saying that: “We are extremely proud to support charities – something that is always important, but even more so in these uncertain times. MobiCash is an adaptive payments solution that ticks all the boxes when it comes to collecting charitable donations.”