Fresh figures from the UK Cards Association shows that a quarter of card payments are now contactless in the UK. With 325 million purchases made using contactless debit and credit cards in November 2016, this accounted for 25% of all card payments.
Contactless payments are growing rapidly in popularity as it was only in August 2016 that the 20% barrier was broken. It’s impressive growth and no doubt helped by the 102 million credit and debit cards in the country. For comparison the contactless payment rate was 11% in November 2015, more than doubling in a year.
Interestingly, the average payment was GB£8.95, which reflects the convenient use for low cost items. The maximum for contactless payment is GB£30. Anything above that requires a PIN.
On a personal note, two out of my three regularly used credit/debit cards are now enabled for contactless payment and it is convenient, though I have to admit that I never saw putting in a PIN as very onerous or time consuming; it takes longer for the receipt to come out….now that would be a service improvement – imagine you could tie your email address to your card and that instead of printing a receipt, it was emailed directly to you. Genius!.
The UK Cards Association is the trade body for the card payments industry in the UK. The full press release is here. Safe PIN Entry image courtesy of UK Cards Association.
Following on from my post last week about the role of patron at Kickstarter, NPR has run a piece called, “When A Kickstarter Campaign Fails, Does Anyone Get The Money Back?” This appears to have nudged Kickstarter into responding with a blog post, “Accountability on Kickstarter.”
I suggest that you read or listen to NPR’s show before reading Kickstarter’s reply but one of the key statements Kickstarter makes on this matter is below.
Is a creator legally obligated to fulfill the promises of their project?
That’s great, but does it change anything in reality? Are you really going to take out legal action to recover $100? I think not. Kickstarter even points out that it feels that legal action is only appropriate if the creator has failed to make a good faith effort.
Consequently, I don’t think this changes anything. Kickstarter is still a great site, but go in with your eyes open as to the possible outcomes, especially the one where you lose all your cash.
Note that UK folk may have some protection if they paid for a failed project using a credit card under Section 75 of the Consumer Credit Act 1974 as it appears to cover purchases outside of the UK too. I am not a lawyer, etc.
I like Kickstarter. It’s a world full of promise, where great ideas vie for money. I’ve pledged for a handful of projects, most of which met their funding targets and of those, all delivered on their promises. A few of the products weren’t as I expected but who hasn’t bought something that they later regretted?
For sure, it’s not always million dollar projects at Kickstarter. Plenty of projects fail to meet their targets and many of them rightly so. I’m not going to name names, but you don’t need to look very hard for projects that have no merit whatsoever (IMHO). Conversely, there are many worthwhile projects that don’t make the cut too.
But what of those projects that do get funded but don’t deliver on their promises? Fortunately, there haven’t been too many of them and while Kickstarter distances itself from the projects themselves, it encourages project owners to return the funding if the project gets into difficulties. But there are no guarantees…if the money is gone, it’s gone.
In a consumer and customer-oriented world, an older world perhaps more accurately describes our role. Patron.
From Oxford Dictionaries, definition of a patron:
1. a person who gives financial or other support to a person, organization, or cause: a celebrated patron of the arts
The definition makes no mention of reward or goods and it’s easier to comprehend with the more artistic projects on Kickstarter given the historical context of the term. Regardless, it applies equally well to the technological ones in that there might be a hope of a product at the end of the project but there is no certainty.
Don’t get me wrong – I like Kickstarter and will continue to support projects there. However people need to understand the risks. At the moment, Kickstarter occupies a useful unregulated niche but I fear that a few high-profile failures losing millions of dollars will draw it to the attention of the authorities and regulation. I sincerely hope that day won’t come, but until then, remember you are patron at Kickstarter.
Yes I am back… Back in the Saddle with my first change to the show format. Quantity does not always equal quality one of the first change I am implementing on the show is more quality versus quantity. I have been jamming more and more into the show. That change starts in today’s show where I refuse to rush, even though I have 10 articles left at the end of the show. From here on out you will get an even spread of content throughout the program and no more rush to jam in the last topics at the end. This will result in the show intro segment being tightened up as well in future shows. We also have a prize winner tonight as well.
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Paul Allen Part 1.
Paul Allen Part 2
The Power of Words.
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