In focus: The future of money

The way money changes hands has been evolving for hundreds of years, with businesses always keen to facilitate new, innovative ways for consumers to part hands with their cash. However the last couple years have seen exponential growth in this area, with Bitcoin, Apple Pay, M-Pesa and local currencies - to name a few - all transforming how we move our money around.

Over the next month we’ll be taking a close look at the trends which will define money and payment over the next few years, what it means for entrepreneurs, the potential pitfalls and how we could all stand to benefit from this disruption.

How Max Levchin, ex-PayPal, plans to change the way we borrow and buy

Levchin’s new start-up, online lending platform Affirm, was born out of the dire need to revolutionise the lending industry, which still uses a decades old system to determine who’s at risk and how much each potential borrower can – or cannot – borrow. 

Is this what the future of money could look like?

The way that we interact with money is changing – and it’s going to keep changing over the next five, 10, 20 years. This got designers at London design firm, Method, thinking about what would happen if all assumptions about how money should behave were removed...

Reshaping the way people donate to charity

Money exchange specialist Fourex is transforming the way people exchange, and donate, money. 

Talking the future of money with Virgin Money Australia

Technological breakthroughs and faster innovation cycles are disrupting every major industry around the world, and financial services are not immune.

Five reasons to embrace the Brixton Pound and local currency

The Brixton Pound is one of 250 local currencies in the world and there’s an estimated B£70,000 currently in circulation (electronic and paper notes combined). Some are sceptical of the local currency phenomenon. But shouldn’t we be embracing these niche tenders? Here are five good reasons why we should...

Are these the ATMs of the future?

Two futuristic designs for ATMs have been revealed this week, meaning that forgotten PINs could be a thing of the past.

Five steps to shaking up an industry

When something that could be greatly improved hasn’t changed for a long time, the easy thing to do is get frustrated and presume it can’t be changed. The smart question to ask yourself is how you can change it.

Infographic: The future of payment

Virgin Money Australia take a look at the trends and innovations which are set to define the future of payment...

How small businesses are using payment technologies

This year, cashless payments overtook cash payments for the first time in the UK. Globally, there are now over 100 million active mobile money users, a figure that has more than tripled over just two years. The revolution in payments technologies has arrived...

Taposh: The story of an inventive fundraiser

The fascinating of a music entrepreneur who took fundraising to a whole new level. Will the future of money mean we are forced to fund our ideas in different ways?

Is it still a good idea to buy bitcoin?

Bitcoin – that virtual currency of which many are aware, but few are fully conversant with. So, what does it actually mean to you?

Will cryptocurrency prove to be the world’s great equaliser?

Cryptocurrency, specifically Bitcoin, has the potential to shift the economic disparity between the west and the developing world. As Mark Zuckerberg attempts to bring connectivity and WiFi to our entire planet via Internet.org, and Google seeks the same lofty goal with Project Loon, the question still remains - is it enough?

Infographic: How Visa payWave is changing the checkout experience

One of the biggest innovations in the payment space this year has been Visa PayWave, which has facilitated over 75 million transactions since January and is over seven times faster than chip and pin. Here we take a look at its impact…

Will Sweden become the world's first cashless country?

Sweden is on track to become the first completely cashless society, due to the country’s embrace of technology and a crackdown on organised crime and terror, according to a recent report.

How developing economies are going cashless

Cashless society is something that could well become a reality in the near future with the introduction of technologies such as Apple Pay, but it’s something that many developing countries are already achieving with significantly less sophisticated technology.

Four platforms transforming US businesses to cashless

The number of smartphone users worldwide is anticipated to surpass two billion by 2016, paving the way for unlimited opportunities in electronic payments...

Young people and money: How will technology change the relationship?

I’m always intrigued to observe how the younger generation use technology on a day to day basis to catch up with their friends on Facebook, watch their favourite TV show on their mobile device or find out the closest pub using the latest phone app.

The Virgin Podcast - Charles Hoskinson

"Machines will be arbitrating in court". Now there’s a thought! But cryptographer Charles Hoskinson says such a reality is not so far away...

How technology is changing our attitude to giving

Technology is not only changing how we spend our money, it’s also changing our attitude to money, and interestingly, our attitude towards giving our money away.

How Stripe revolutionised the way start-ups make money

There's nothing like experiencing your entrepreneurial spirit drain from your soul when you're faced with the gut-wrenching risk of your payment system going wrong. Thankfully, Stripe has changed all this...

Will the death of the invoice lead to more ethical business?

We are living in the on-demand economy. We want our taxis on-demand, our food on-demand and our movies on-demand. Sadly, for small businesses, this does not translate to getting paid on time. And in a market where cash flow sometimes determines whether a start-up will make it to the next month or not, late payment could be fatal.

Will social media messages soon replace bank transfers?

Social media is well established as a medium of choice for engagement, promotion, and general interaction, but is it also set to become a preferred method of transferring money?

The Virgin Podcast - Jon Matonis

"Bitcoin has become the strongest computer in the world, stronger than the top 500 supercomputers combined." So says Jon Matonis in the latest Virgin Podcast.

The future of money - fair and transparent?

The world of money has been slow to innovate - not much has happened in the last 30 to 40 years. The ATM was the last major innovation and since then, although banks have been avid adopters of new technology for their own internal needs, little else has changed.

Is your fingerprint your new pin code?

With hackers and cyber criminals using ever more sophisticated methods to gain our precious data and evade conventional security processes, increasing our financial security has become an even more urgent matter.

The societies that survive without money

Imagine if one day you woke up and found that your bankcard and all cash in your wallet had just disintegrated. Making your way to the shops, you noticed customers dancing in exchange for milk, and others furiously beading necklaces to earn enough food to feed the family for a week. 

What will future innovation in the banking sector look like?

Ottoman admiral and cartographer, Piri Reis compiled the Piri Reis map as a world map in 1513. This map was compiled with military intelligence and now serves as a demonstration of the exploration of the New World. 

How to unlock the future of money and create a fairer world

"Everything around you that you call life was made up by people that were no smarter than you. And you can change it. You can influence it. You can build your own things that other people can use. Once you learn that you’ll never be the same again." - Steve Jobs 

Will wallets soon be a thing of the past?

Think about what’s in your wallet. We’ll even give you a minute to go find it and take a look. You’ve probably got a little cash, some credit and debit cards, a photo ID or two and maybe business cards and photographs of your family and friends. 

The Virgin Podcast - Charlie Morris

"Bitcoin is progress." So says Charlie Morris, this week’s guest on the Virgin Podcast as we talk bitcoin, fintech, interest rates and plenty more besides.

Inside the world of local currency

We've all seen the signs in shop windows: "Local currency accepted here." But what does that mean? And how can having a local currency invigorate the local economy?

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