Payments Monitor

Good morning, welcome to Payments Monitor, my name is Faisal Khan, today is the 21st of October 2015, some trending stories today are: TOP STORIES Sweden is well on its way to become the first country that would be completely cashless. With greater acceptance of electronic payments, especially P2P payments, cash usage is fast diminishing. Sweden is one of the few countries where consumers use bank cards for even the smallest of transactions. Fintech gurus have been saying for years that bank branches are on a decline. This is especially true for UK, where more than 650 bank branches are set to disappear by the end of 2015. In the past 10 years, over 25% of bank branches in the UK have closed down. With the advent of new challenger banks that are opening up their digital branches, the practical value of visiting a branch has been all but eliminated. Credit Suisse will raise $6.3 Billion in a strategy shift, especially after its recent job cut and poor performance. One investor recently cited that “Credit