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He then moved on to outline one of the benefits of the new USD 8 monthly Twitter subscription, and how it would tie in with a potential Twitter payments system. Once authenticated into the payments system, Twitter users could hold a balance on their accounts and could send money to other users. Musk even suggested pre-populating those accounts and allowing users to send the money anywhere within Twitter.

To transfer their money out of Twitter, users would need to attach an authenticated bank account to their Twitter account. The final step would be to offer a compelling money market account to get a high yield on the user’s balance, which could then lead to Twitter adding debit cards and checks.

From Elon Musk outlines a plan to bring Twitter into payments – ThePaypers:

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Blockchain could change the carbon credit market from a “fragmented mess”, into a trillion-dollar industry, says tech-business advocate Sandra Ro.

Ms Ro, chief executive officer of Global Blockchain Business Council, took part in a panel on the future of technology, on the final day of the Bermuda Tech Summit 2022.

She said that when the carbon market was developed everyone built according to their own rules and according to their own local markets, creating both a trading problem, and a credibility problem.

“There are still issues around phantom credits and whether something issued ten years ago, can still be used or should be retired,” she said. “Blockchain could be potentially very good at tokenising all of that and creating it under an interoperable way that would link the markets together, and could be trusted, verified and tradable.”

From Nature-based tokens could become a new form of currency – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community |:

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Max Neukirchen, head, payments and commerce solutions, JP Morgan Payments states: “While Pay-by-Bank is not new to the industry, our collaboration with Mastercard, a long-time trusted partner, will make our approach differentiated.

“Our solution will offer a number of benefits. For our clients, it will minimise the risk of returns from an insufficient balance – through advanced analytics, we are creating a feature that will help clients determine the best time to initiate a payment.

From JP Morgan and Mastercard unveil Pay-by-Bank service:

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Moreover, the younger and wealthier consumer demographics — those who are most sought after by merchants and financial institutions (FIs) – have the greatest interest in trying new payment methods, such as online bank transfers. This may indicate the opportunity awaiting merchants that facilitate the usage of this payment method.

From Bank Transfers Make the Leap to Retail Sales:

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Sainsbury’s contactless and card payments went down leaving customers furious as they were unable to pay for shopping | The Sun https://buff.ly/3DPIRlq

“”They don’t tell you before you start shopping either. They like to let you fill up your trolley first so you waste your morning.”

I don’t understand why retailers don’t have a backup plan, since this sort of thing happens all the time. Ring it up as a cash transaction, take the receipt to the store manager or whoever and have them take the payment using an Android/iPhone. The till roll can be reconciled at the back end, surely?

Yes there would be a queue but there wouldn’t be abandoned carts and furious customers.

Or even just take a picture of the customer’s card and do a manual entry when the POS comes back up?

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Speaking at a side session at COP27 on Wednesday, former Bank of England (BoE) senior advisor and G20 co-chairman Michael Sheren said that carbon was “moving very quickly into a system where it’s going to be close to a currency,”

From ‘Carbon Very Close to Becoming a Currency,’ Tokenizing Nature is Next: COP27:

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Guaranteeing the right to pay in cash would also be a major win for incoming tourists.

From Norway Considers Forcing Businesses to Accept Cash – Life in Norway:

Allowing tourists to use Vipps would be a bigger win.

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Germans will no longer be able to withdraw money at night from ATMs in bank foyers thanks to a surge in cash-machine bombings.

From Germany to Close Bank Foyers at Night After ATM Bombing Spree – Bloomberg:

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A growing number of small U.S. retailers have been encouraging shoppers to try an alternative to credit cards called “pay by bank,” and payments experts predict this option will take off in a much bigger way in 2023.

From ‘Pay By Bank’ Trend Is Next Front In Merchants vs. Banks Payments War:

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A
record number of passengers are using smartphones or smart watches to travel on the Tube. Transport for London say that around 485,000 journeys a day are made by using the devices (a quarter of daily adult pay-as-you-go journeys) rather than an Oyster card or contactless bank card.

From Record number of people using smartphones and watches to travel on Tube | Evening Standard:

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