Woolworths, Coles to raise tap-and-go limit to $200 – Finance – Hardware – Networking – Software- Tempemail – Blog – 10 minute

Australia’s two biggest supermarkets Woolworths and Coles will raise their dollar limits for contactless transactions without PIN numbers from $100 to $200 in a bid to stop further COVID-19 infections by lessening the use of payment terminal keypads.
The move comes, iTnews has confirmed, after the two grocery giants agitated strongly for the lift to the government, prevailing on global credit card schemes Mastercard and Visa as well as regulators and Tempemail Cabinet to raise the current $100 limit until the spread of the virus subsides.
The official announcement of the lifting of the contactless limit is scheduled for Friday morning, however it is already working in some supermarkets.
Woolworths chief executive Brad Banducci has been publicly outspoken about the need for the contactless limit to rise.
Customers using Apple Pay to tap via glass will also be roped in under the raised limit.
Importantly, eftpos transactions linked to Apple Pay – which is offered by ANZ, Suncorp and raft of smaller banks – will also be PIN free to $200. Bank issued eftpos cards that use tap, like the classic CBA Keycard, will also work.
Less clear is how other merchants will be treated.
Coles and Woolworths are classed as ‘strategic merchants’ under payment card interchange fees because of the volume of transactions they push. This means the supermarkets get lower card interchange fees, money that is shunted between issuing banks.
One issue is that while Australia’s biggest retailers might be doing the right thing in terms of hygiene, if smaller merchants are not roped in, it will effectively steer customers to the supermarkets with the most market power.
A further issue is that the push to get people to use contactless transactions overall will deliver a handsome revenue windfall to credit card giants Mastercard and Visa because the bulk of debit-based tap-and-go transactions ride on their so-called proprietary rails.
The Reserve Bank of Australia has been pushing for banks to further roll out a regulatory reform known as least cost routing, also know as merchant choice routing, that lets shopkeepers set the rails transactions ride on rather than the banks and the card schemes.
Shopkeepers are already on the warpath over tap fee gouging having formed a fightback group earlier this year. 
With the RBA’s review of payments systems regulation and now on hold until next year, and consumers being urged to tap more than ever, an obvious and real question arises as to whether there is now a case for more immediate regulatory measures.  
Coles and Woolworths are being contacted for comment.

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Woolworths, Coles to raise contactless PIN-free limit to $200 – Finance – Hardware – Networking – Software- Tempemail – Blog – 10 minute

Australia’s two biggest supermarkets Woolworths and Coles will raise their dollar limits for contactless transactions without PIN numbers from $100 to $200 in a bid to stop further COVID-19 infections by lessening the use of payment terminal keypads.
The move comes, iTnews has confirmed, after the two grocery giants agitated strongly for the lift to the government, prevailing on global credit card schemes Mastercard and Visa as well as regulators and Tempemail Cabinet to raise the current $100 limit until the spread of the virus subsides.
The official announcement of the lifting of the contactless limit is scheduled for Friday morning, however it is already working in some supermarkets.
Woolworths chief executive Brad Banducci has been publicly outspoken about the need for the contactless limit to rise.
Customers using Apple Pay to tap via glass will also be roped in under the raised limit.
Importantly, eftpos transactions linked to Apple Pay – which is offered by ANZ, Suncorp and raft of smaller banks – will also be PIN free to $200. Bank issued eftpos cards that use tap, like the classic CBA Keycard, will also work.
Less clear is how other merchants will be treated.
Coles and Woolworths are classed as ‘strategic merchants’ under payment card interchange fees because of the volume of transactions they push. This means the supermarkets get lower card interchange fees, money that is shunted between issuing banks.
One issue is that while Australia’s biggest retailers might be doing the right thing in terms of hygiene, if smaller merchants are not roped in, it will effectively steer customers to the supermarkets with the most market power.
A further issue is that the push to get people to use contactless transactions overall will deliver a handsome revenue windfall to credit card giants Mastercard and Visa because the bulk of debit-based tap-and-go transactions ride on their so-called proprietary rails.
The Reserve Bank of Australia has been pushing for banks to further roll out a regulatory reform known as least cost routing, also know as merchant choice routing, that lets shopkeepers set the rails transactions ride on rather than the banks and the card schemes.
With the RBA’s review of payments systems regulation and now on hold until next year, and consumers being urged to tap more than ever, an obvious and real question arises as to whether there is now a case for more immediate regulatory measures.  
Coles and Woolworths are being contacted for comment.

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Tariff pain turns to gain: US computer stockpiles help meet virus rush – Finance – Hardware – Storage- Tempemail – Blog – 10 minute

As the coronavirus outbreak forced classes online, Boston Public Schools ordered 20,000 laptops and had them in hand in four days – an unusually fast turnaround made possible by a build-up of inventory prompted by the US-China trade war.
Computer companies including Boston school vendor Acer Inc ordered extra laptops for import in early December ahead of scheduled US tariffs on products from China, where 90 percent of the world’s laptops and monitors are made.
While the tariff plans have since been canceled as part of a “phase one” trade deal, the build is letting companies meet a surge in demand from US students and workers stuck at home due to lockdowns, even as customers in Japan, India and Britain face weeks-long delays and “out of stock” signs.
“We’re going to be able to fulfill everything for everybody” in the United States, said Richard Black, a vice president of marketing at Acer, which sold about as many laptops worldwide as Apple Inc last year.
“It turned out to be an excellent call to order early.”
Other products sought after by families on lockdown, including toys and computer monitors, are also relatively plentiful in the United States. They too had been scheduled to fall under a 15 percent tariff starting last Dec. 15.
California-based MGA Entertainment, which sells Little Tikes backyard toys and LOL Surprise collectible dolls, in December placed an import order for 15 percent more than normal from China, or slightly under US$10 million in goods, CEO Isaac Larian said.
It has been able to fulfill about 60 percent of US demand as consumers seek ways to entertain their children at home.
Fulfillment rates are lower in Europe, where MGA did not bring in extra products, Larian said.
“It did work out a little but the supply chain is still disrupted majorly,” he said.
The virus closed many factories in China for a month or more, delaying spring-time deliveries to warehouses globally.
The coronavirus originated in China last year and has since spread across 205 countries and territories. Globally it has infected more than 850,000 people and killed over 42,000, according to a Reuters tally.
For an interactive graphic tracking the global spread of the virus: open https://tmsnrt.rs/3aIRuz7 in an external browser.
Demand is buzzing
Some popular computer monitors now are out of stock even in the United States as a result of the work-from-home rush, said Linn Huang, an analyst at technology market tracker IDC.
On Amazon.com, merchants have raised prices on top-rated consumer laptops by US$50 to US$100, according to tracking on price comparison tool CamelCamelCamel.
However, businesses purchasing from commercial sellers have not seen price jumps, according to industry analysts.
Boston schools paid US$5 million, or about the usual US$250 each, for the 20,000 Chromebooks sent by Acer on two trucks each from warehouses in Los Angeles and Chicago.
“Now is not the time when dealing with children and education environments to try to jack up prices and have some short-term profitability,” Acer’s Black said.
Analysts expect laptop demand to slow if the global economy sputters further and widespread layoffs continue due to the impact of the virus.
But with many still tuning their work-from-home set-ups, demand is buzzing. Computer exports from South Korea surged 82 percent in March over last year.
Some computer makers are even weighing the expensive move of transporting devices by plane versus boat, said Jeff Lin, a Tapei-based researcher at Omdia.
The goal, he said, is to gain market share by being first to get devices in stock.

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Apple doubles China donations for COVID-19 recovery efforts – Finance- Tempemail – Blog – 10 minute

Apple more than doubled its donation to China’s efforts to fight COVID-19 to over 50 million yuan (A$11.6 million), CEO Tim Cook posted on Weibo on Wednesday, weeks after the iPhone maker said it had opened all its 42 stores in one of its largest markets.
Cook said in a post on Twitter last week that Apple donated 10 million masks for health professionals in the United States and Europe, which it sourced through its supply networks.
Supplies and donations have come in from wealthy executives and corporates around the world to fight the coronavirus, which has killed more than 42,000 people globally.
Chinese billionaire and Alibaba co-founder Jack Ma has pledged similar medical supply donations including masks and testing kits, as have other Chinese tech giants such as Baidu, Tencent, Huawei and ByteDance, according to Chinese media reports.
Apple has already donated 20 million yuan of its promised amount through Beijing-based China Foundation for Poverty Alleviation to support six hospitals in Hubei, including the makeshift Leishenshan hospital in Wuhan, Cook said.
Apple will contribute the rest of the money to support longer-term public health recovery efforts, he said.
“China has shown incredible spirit and resilience during the COVID-19 outbreak and we are grateful to our teams, partners and customers for their support during these challenging times,” Cook said in a message on China’s Twitter equivalent Weibo.
COVID-19 is the name of the respiratory disease caused by the coronavirus.
Apple warned last month it was unlikely to meet its March-quarter sales guidance as the ramp-up of Chinese factories that produce iPhones was slower than expected after weeks of closures.
The virus originated in China last year and has since spread across 205 countries and territories. Globally it has infected more 930,000 people, according to data from Johns Hopkins University.

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Video chat app Houseparty offers US$1 million reward over hacking claims – Finance – Strategy- Tempemail – Blog – 10 minute

Group video chat app Houseparty offered a reward of US$1 million for evidence of what it said was a smear campaign against the company as it fought to quash claims that the app was stealing data from others installed on the same smartphone.
Hundreds of tweets have surfaced in the last two days, claiming that Spotify, Snapchat and other accounts on people’s phones were hacked after they downloaded the Houseparty app, which was acquired by Fortnite-maker Epic Games last June.
“Our investigation found that many of the original tweets spreading this claim have been deleted and we’ve noticed Twitter accounts suspended,” said Nick Chester, spokesperson for Epic Games, after the company noticed the tweets on Monday morning.
Houseparty, which saw an average daily download of about 278,606 in March as per Reuters’ calculations based on data from analytics firm Apptopia, has denied hacking claims.
“All Houseparty accounts are safe – the service is secure, has never been compromised, and doesn’t collect passwords for other sites,” Houseparty said in a tweet.
“We are investigating indications that the recent hacking rumors were spread by a paid commercial smear campaign to harm Houseparty. We are offering a $1,000,000 bounty for the first individual to provide proof of such a campaign to [email protected]”
The app was currently featured on the list of the most downloaded apps on Google’s Play store and Apple’s App store.
Due to lockdowns enforced in several countries to contain the spread of coronavirus, people working from home are using more video and chat apps such as Houseparty, Zoom and Microsoft’s Teams.
Apple and Google did not immediately respond to requests for comment.
Cyber security expert Graham Cluley said no legitimate computer security firm had confirmed that there was a problem with Houseparty.
“The fact that you installed Houseparty and then your Spotify account was breached may be entirely and utterly unconnected,” he said.
“Hackers use credential stuffing attacks, using passwords scooped up from previous security breaches, all the time in an attempt to break into accounts.”

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Huawei warns China will strike back against new US restrictions – Finance – Security – Telco/ISP- Tempemail – Blog – 10 minute

Huawei warned on Tuesday that 2020 would be its most difficult year yet due to American trade restrictions which dealt a blow to its overseas sales in 2019, and predicted the Chinese government would retaliate against the United States.
The world’s largest maker of telecoms equipment issued the warning as it reported its weakest annual profit growth in three years. It said Beijing could hit back against US measures to restrict chip sales to Huawei, by restricting sales of American products in China and by shifting to alternative suppliers in China and South Korea.
“The Chinese government will not just stand by and watch Huawei be slaughtered on the chopping board,” Chairman Eric Xu told reporters at the launch of Huawei’s annual report.
“Why wouldn’t the Chinese government ban the use of 5G chips or 5G chip-powered base stations, smartphones and other smart devices provided by American companies, for cybersecurity reasons?”
The United States alleges the Chinese government could use Huawei’s equipment to spy, an accusation rejected by the company.
Washington placed Huawei on a blacklist in May last year, citing national security concerns, restricting sales of US-made goods to the company. US President Donald Trump’s administration is also preparing further measures that will seek to restrict the supply of chips to the company, sources familiar with the matter told Reuters this month.
One of the sources said the rule-change is aimed at curbing sales of chips to Huawei by Taiwan Semiconductor Manufacturing Co, the world’s largest contract chip maker and a major producer of chips for Huawei’s HiSilicon division.
“Even if this situation you mentioned happened, Huawei and also other Chinese companies can choose to buy chipsets from Samsung from Korea, MTK from Taiwan, and [Unisoc] in China, and use those companies to develop chips,” Huawei’s Xu said.
Xu, however, predicted 2020 would be the most difficult year yet for the company because of the US measures and warned that further export restrictions could destroy global tech supply chains.
Smartphones strong
Huawei Technologies said net profit for 2019 came in at 62.7 billion yuan (US$8.9 billion), up 5.6 percent – its weakest growth in three years, and down from 25 percent jump a year earlier.
Its carrier business, which includes 5G mobile network equipment, saw sales rise just 3.8 percent.
Liang Hua, chairman of the board, said the company would have to adapt to the US restrictions as well as the coronavirus pandemic.
Overall revenue rose 19 percent to 858.8 billion yuan, helped by a 34 percent jump in sales for its consumer business unit, which includes smartphones.
That was mainly driven by China, where sales surged 36.2 percent to 506.7 billion yuan. In contrast, revenue from the Asia-Pacific region excluding China fell 13.9 percent, while in Europe and the Middle East sales grew just 0.7 percent.
Huawei dominated smartphone sales in China, taking a 38.5 percent share of the market in 2019 compared with 27 percent a year earlier, according to research firm Canalys. This was in part due to a boost in nationalist sentiment after the company came under increasing pressure from the United States.
It spent 15.3 percent of its revenue, or 131.7 billion yuan, in research and development last year. Cash flow from operating activities jumped by more than one fifth to 91.4 billion yuan, thanks to a strong performance in its home market.
(US$1 = 7.0874 Chinese yuan)
(Reporting by David Kirton; Editing by Miyoung Kim, Edwina Gibbs and Pravin Char)

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How are APIs revolutionising global trade finance?- Tempemail – Blog – 10 minute

Read Article
Written by Mr. Tim Nicolle, Founder, and CEO, PrimaDollar
Importing and exporting goods is a complicated process with many parties needing to interact and cooperate so that the exporter in one location can reliably move his goods to his distant customer in another location. Wrapped around this process is the challenge of moving the money – and trade has always involved a classic standoff between the two parties. The importer would much prefer to pay later, ideally after goods are received and turned into cash. The exporter, on the other hand, would like his cash upfront. This reduces his risk and means he can recycle his capital into new trades and new business.
And this interaction between the physical and the financial has left us with a multi-dimensional headache. Given all the steps in the physical export process, the traditional approach has been to create a financial process that matches it. The importer and exporter both work through their own banks. The goods move between the principals and the cash moves between their respective banks. This is a “four-cornered” system – and has been used almost since trade began.
But modern technology is making the world a smaller place. These days we can talk for free and with video – and all around the world. And so there is no longer any need for the four-cornered system with all of its complexities. Just as logistics companies are simplifying the physical steps involved in moving the goods from one place to another, a new breed of trade finance companies can simplify the process of moving the money – and enable the exporter to get paid upfront whilst the importer can pay later. This “triangular” system or three-cornered system is much simpler. The trade finance company pays the exporter at shipment and the buyer can pay later. The buyer’s credit risk is transferred.
And this is where APIs become important.
At a technical level, APIs allow systems to talk to each other without human intervention. If implemented properly, connections are secure and fast – and invisible to the customer. This happens by one system “calling” the other system using the API as the interface. Calling an API is a way to exchange data between the two systems.
APIs allow banks and logistics companies to add brand new products to their existing legacy platforms and to integrate new products into their online customer journeys.
These are organisations that already have large numbers of customers – in fact, all exporters and importers are customers of banks and logistics companies. But bringing a new product to market, especially a financial product, would take many months and many millions of dollars. Upgrading a legacy environment to manage customers, payments, accounting, processing, operational risks, and data is a hugely expensive and transformational task.
But APIs mean that all these new processes can be handled externally. New products can simply be integrated directly into the digital customer journey – into the user interface but by-passing core banking systems and core logistics systems. These do not need to be touched.
This means that new products can be brought to customers quickly. The interface between the customer and the new product is managed in the online interface – and the expensive backend systems are untouched.
And for the new breed of trade finance providers, this is also very important. It means that new products can be delivered rapidly into existing client bases and through existing and trusted relationships. The expensive task of recruiting new customers individually is avoided and a path to hyper-scale emerges.
Everyone wins from this process. Customers get access to new products but via a relationship and interface that they already know. The customer-owner, whether a bank or logistics company, gets new products and services to offer the customers and can innovate themselves – for example, building brand new products that integrate freight and finance into one single service. And the trade finance specialist that provides the new service gets to deliver its product directly and rapidly into the market without the cost and time involved in building a new client base itself.
There are many examples of APIs that we don’t see. One good example is how APIs have allowed taxi companies to integrate live traffic data into their apps. Google has good information on traffic conditions because they have so many users. Taxi companies have fewer users and so much less data. But taxi companies need to know about traffic conditions in detail so that they can forecast how long a driver might take to arrive or how long a journey might take so that it can be priced correctly. Here is where the API comes in. The taxi app on your mobile connects through a central server to google maps with your location, as does the driver. Google maps sends back data on the traffic conditions, and the taxi app can tell you the answers. Everyone wins: you get the best picture possible on your journey, the taxi company can price its services properly, and google gets to resell traffic data without having to interact directly with a new customer.
Trade finance can be the same. New specialists have the skills and technology platforms built to manage the “three-cornered” trade finance model, where one company manages both importer and exporter at the same time. This is cheaper, quicker and simpler than the legacy “four-cornered” model. Using APIs, this capability can then be added into the digital customer journeys of banks and logistics companies directly and invisibly. Everyone wins.
And where are we going with all this? Well, a good example is how technology has revolutionised the process of buying a car. Many years ago, probably long enough that we can’t remember, you bought a car from a garage and walked up the road to the bank to get the money. But today that’s not what happens. Today, the garage selling you the car also packages in the finance – in fact, you cannot see the join between the two products: car sales and car finance. And APIs can deliver the same result into the trade finance industry. The physical process of moving the goods can be integrated completely in the financial process of moving the money.
A revolution is coming.

If you have an interesting article / experience / case study to share, please get in touch with us at [email protected]

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Facebook commits US$100 million to support news media hurt by virus crisis – Finance- Tempemail – Blog – 10 minute

Facebook on Monday pledged US$100 million in financing and advertising spending to support news organisations, including local publishers in the US, reeling from pressure due to the coronavirus pandemic.
News publishers, especially print media, have taken the brunt as many advertisers pulled their marketing budgets to rein in costs because of virus-related uncertainty.
Vatican’s 160-year-old newspaper L’Osservatore Romano, which suspended printing last week, was the latest in line of a number of print publishers struggling to operate in safe conditions after the outbreak.
Facebook’s donation include US$25 million in emergency grant funding for local media, and US$75 million in marketing spend for news organisations globally, it said.
The social network said the first round of its grants went to 50 local newsrooms in the US and Canada.
Corporate America has pitched in several ways to assist from the fallout of the fast spreading virus, even as many of the companies have been forced to dramatically scale back operations.
On Friday, Google-parent Alphabet said it would donate more than US$800 million in funds and ad credits to businesses, government and health organisations.

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‘Like Glastonbury tickets’ – Britons chase online grocery slots in coronavirus crisis – Finance – Strategy- Tempemail – Blog – 10 minute

British supermarkets are frantically trying to build up their online operations during the coronavirus emergency but no matter how hard they work they will not have enough capacity to meet unprecedented levels of demand.
That has prompted the industry to call on Britons able to safely visit a supermarket to do so, leaving precious online delivery slots for the elderly and vulnerable.
With Britain in lockdown, analysts estimate about 25 percent of food purchasing has switched from cafes, restaurants and bars to the grocery retail sector as people adapt to the new way of living.
Prior to the health crisis about 8 percent of British grocery demand was ordered online, with 92 percent bought in stores. But major supermarkets are reporting demand has surged to about 75 percent of people wanting an online delivery.
Last week online supermarket pioneer Ocado said it had around 10 times more demand for its services than it did before the outbreak began. It has stopped registrations from new customers.
A source at another major supermarket group said its website offers delivery slots for three weeks out.
“The new slots go on every day at midnight, they go like Glastonbury tickets,” the source said.
“Even if we were all very creative, and despite all the pressures, doubled our capacity it still doesn’t touch the sides of what people would want.”
Slots
Dave Lewis, head of industry leader Tesco, last week asked customers who are able to safely come to stores to do so, instead of shopping online, so that it could start to free up more slots for the vulnerable.
Walmart-owned Asda, the number three player, is similarly requesting customers to shop in stores if possible so that delivery slots can be kept for those most in need.
Sainsbury’s, the number two, has given the elderly and vulnerable priority over all slots. Its customer “Careline” has been inundated, with the same number of people who use the service in an average year using it in just two weeks.
The problem for the industry, which could have repercussions for when the pandemic is over, is frustrating hundreds of thousands of regular online customers who miss out on slots during the crisis.
The government has provided Britain’s big supermarket groups with a list of 1.4 million highly vulnerable citizens and they are dividing them up between them on a pro-rata basis according to market share.
Inevitably this will mean they will have to “bin-off” some previously loyal customers.
Some commentators argue the government needs to take a more central role in how supermarkets provide food.
“Government has to get a grip and set new food cultural rules for how consumers are to behave. Previous governments in crises, in wars, have done this,” said Tim Lang, professor of food policy at City University London.
“This government is refusing to listen to the expert advice which has been given to them. This is unacceptable and setting up the retailers to fail.”

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Commonwealth Bank, Westpac rush to pause electronic payment fees – Finance – Hardware – Networking- Tempemail – Blog – 10 minute

The Commonwealth Bank of Australia and Westpac have moved to temporarily scrap lucrative merchant service fees for electronic card payments in an attempt to stop more businesses shutting their doors, paving the way for a major rethink around how payments are clipped by institutions.
It was announced by CBA chief executive Matt Comyn and the head of Westpac’s business bank, Guil Lima – the bank is yet to appoint a new chief executive – in separate statements on COVID relief packages to flow from today as the government continues to discourage cash payments.
The hardcore steering of consumers away from cash and towards contactless or ‘tap’ payments by the government had been looming as a potential public relations disaster for banks because the sudden shift out of cash coupled with panic buying at supermarkets risked delivering a fee windfall at the direct expense of merchants.
According to Comyn, around 70,000 small businesses will have their merchant fees automatically waived.
Notably, CBA is also handing out terminal rental fee waivers to larger businesses that ask for them, a move that will bring some relief to retailers that have been forced into high street hibernation.
“Over the last fortnight we announced a number of measures to support our small business and retail customers through this very challenging period,” Comyn said.
“It has become apparent over the last week that medium-sized and larger businesses will also need significant support.”
Westpac says it is “refunding the merchant terminal rental fee for up to three months” with businesses told to either contact their relationship manager or apply online.
The announcement of the fee waivers came on the same day as the Australian Banking Association announced a cross-industry credit relief package made possible by the Australian Consumer and Competition Commission lifting regular controls on banks collaborating.
What’s less clear however is whether multinational payments giants Mastercard and Visa will also pass on fee relief or just leave it to the banks, who issue their cards and then collect hefty interchange fees through a convoluted series of merchant classifications and card type.
Visa and Mastercard have doggedly defended the operation of the interchange fee system that, like buy-now pay-later, extracts income from merchants by charging them to accept card payments, either physically or online.
At the same time merchants are also forced to pick up the bulk of the losses for online card fraud, even thought the banks and multinational payments schemes often own the networks and systems that are exploited.
The other time bomb sitting in the mix of COVID-19 relief measures is the rapid rise of debit payments and their displacement of credit cards in the market.
According to the Reserve Bank of Australia’s latest study of consumer payments made using debit rocketed from 30 percent to 44 percent in terms of the share of the number of payments made below $9,999 between 2016 and 2019.
The graph below also illustrates the shifting mix.

The same study put credit cards falling from 22 percent to 19 percent across the same period, with cash dropping from 37 percent to 27 percent.
The problem for merchants, and now banks, is that because of the incentive structures put in place when contactless payments were first rolled out, most tap payments now route by default across Mastercard and Visa’s premium rails rather than across the cheaper eftpos network.
The tap-and-go hegemony of the two global card schemes has caused serious concerns at the RBA for years, especially its propensity to increase the cost of accepting card and online payments by merchants.
To address the issue, the RBA introduced reforms known as ‘least cost routing’ or ‘merchant choice routing’ where businesses got to choose what rails their payments rode on and thus could control the fee clip better – providing their bank actually offered them the choice, which they were meant to do.
The sluggishness of some banks to roll out and promote this drew uncharacteristically direct criticism from RBA governor Philip Lowe in December, statements that came as the RBA went to the now-postponed consultation on the review payments system, including stronger mandates for least cost routing.
With the review now postponed, cash on the nose and consumers being told to tap as the default, there’s now a serious question as to whether a more swiftly implemented mandate to bring medium term relief to merchants beyond the 90-day electronic payment fee holiday isn’t now a realistic option.

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