What's been happening in the world of fintech this week? Glad you asked. Pour yourself a glass of something refreshing and read on.
Friction in payments is a good thing
Suresh Vaghjiani, managing director of payment processing tech provider Global Processing Services, says seamless payment systems provided by fintechs have gone too far. Speaking to the IBS Journal, Vaghjiani warned that a little friction in payments was a good thing. According to data from Barclaycard, contactless payments are set to rise by 371% by 2021. Will we see fintechs dialling back on seamless offerings?
We don't care about the young folk
Young people want to know more about money, according to a report by Money Advice Service and BritainThinks. A survey of 500 university and school leavers aged between 16 and 24 showed 85% wished they'd learned more about finances while they were in education. In this week's FT, Claer Barrett suggests the curriculum, which has lately included personal finance, has room for improvement when it comes to money matters.
Above the Curve
Curve, the London fintech startup that offers a platform that lets you consolidate all your bank cards into one card and app to make it easier to manage your spending, was launched in the U.K. this week, as reported by TechCrunch. The service includes very useful functionality, such as the ability to turn back time if you spent money on the wrong card and reallocate your spending. This has been called the 'Go Back in Time' feature.
Bad week for Bitcoin?
While most said it was only a matter of time, the possible reasons behind Bitcoin's crash this week are fascinating. Business Insider's Oscar Williams-Grut lays out the most popular theories, which include the maturing of the first Bitcoin futures contracts. Read that here.
Did we miss anything?