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The World Health Organisation is advising consumers to avoid handling bank notes and instead switch to contactless payments to deter the spread of the deadly coronavirus. 
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Digital banking startups in the UK now cater to almost 20 million customers, but face a strenuous challenge to reach profitability in the face of slowing growth rates and a decline in deposit balances.
Vineet Anand's insight:
UK Neobanks are now home to 20 million customers - report indicates challenges in growth and deposit balances. Profitability at average of PS9 per customer is stark contrast to PS270 for traditional incumbents! ECB today stated there are too many banks in the region with potential for M&A in light of digital players and IT risks.
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India is set for a digital payments revolution, with the value of transactions set to hit US$500 billion by 2020, ten times its current level
Vineet Anand's insight:
520 million smartphone users in India by 2020 will aid in growth of digital payments. Report outlines 1/2 of internet users will make digital payments - all this fueled by relaxation of regulatory environment for financial service providers, and unified payments interface. These factors will move the digital payments from current $50 billion to $500 billion by 2020!
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Finextra: Samsung will introduce its mobile payments service in South Korea later this month, with Visa, MasterCard and several major banks onboard for a US launch in September.
Vineet Anand's insight:
Samsung Pay launches in Korea on Aug 20; Us Sep 28 and UK, Spain and China to follow suit. Galaxy S6 and edge phones along with Note5 to support Samsung Pay. Four key developments happening as we come to the end of 2015 summer:
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Curated by Vineet Anand
Payment Industry leader passionate about Fintech, Innovation in Banking, Product Management & Strategy, driving revenue growth through client management, business development and P&L focus.
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The Payments ecosystem is evolving at an unprecedented pace driven by mobile, cloud computing, start-up's challenging the behemoths, and new technologies. My personal collection of curated stories and blogs.
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WHO advisory to give shift in spend from cash to digital contactless. Potential for late adopters to now become adopters of cash especially in high digital countries like China, HK, Singapore, EU (including UK), India