News & Views - Savantor

Innovation is the way forward

Friday, 17 December 2010

Was it me or was the great WikiLeaks coup just a big let down.  Not even any revelations about FIFA being a bit corrupt.  As reported below some innovative ideas in the card market were far more interesting.  Apparently ATMs are now preferred over branch banking. 

In an age where everything cool has an ‘i’ in front of it how long will it be before we get the iATM touch screen with apps to download straight to your iPhone?  Surely it can’t be long if banks like LTSB are allowing customers to create their own avatars.  Maybe the avatar could visit a virtual branch and do our banking for us thus avoiding all those tedious questions about whether we want to upgrade our current accounts. 

The contactless initiative has been given a boost by a trial by Visa involving taxi cabs in London using contactless terminals for journeys less than £15. 

However the most entertaining innovative idea has to be the Payments Council suggesting a paper based system to replace cheques.  There must be more to it but it does sound like replace cheques with ….. cheques?  Oh well have a happy Christmas.

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