BARCELONA, March 8 (Xinhua) -- Availability and reliability are still the two major demands for consumers when making a payment through a digital or electronic system, James Anderson, executive vice-president of digital payment products at Mastercard, has said.
In a recent interview with Xinhua, Anderson said he didn't expect the arrival of 5G ultra-wide broadband to alter the current dynamic, explaining that although speed is important, availability and reliability are more important.
"When consumers are paying, that has to work 100 percent of the time," he said, adding that "people have zero tolerance levels for delays."
"If only 20 percent of consumers have it (5G). It is not that important for payments. I think that for payments, it is more important to have 100 percent coverage with 3G reliability than 20 percent coverage with 5G availability," he commented.
The use of cash as a method of payment is declining, highlighted by the fact that 2016 saw Spaniards make more card than cash payments, according to data from the Bank of Spain published in the El Pais newspaper.
The trend could well lead the way for an increased use of electronic payment methods or even payment using mobile phones.
Anderson explained that Mastercard are currently developing a payment system using QR (a kind of matrix barcode) for emerging markets.
"We decided that QR is easier and more convenient, so we will be supporting that," he said.
"Many sections of the population don't use cash for anything now... I think there will be sectors where cash becomes more or less irrelevant," said Anderson. but he doesn't believe cash will disappear as "it forms an important part of the fabric of society."
SRINAGAR, Indian-controlled Kashmir, April 7 (Xinhua) -- Violent protests broke out in Indian-controlled Kashmir Thursday with irate youth setting ablaze a police vehicle to protest the killing of two militants, officials said.
The protesters, mostly youth, attacked Indian troops and police with rocks and brickbats in Pulwama town, about 35 km south of Srinagar city, the summer capital of Indian-controlled Kashmir.
Locals said the protesters hijacked the armored vehicle of police in Pulwama town and drove it to Karimabad village, three km away from the main town to set it ablaze.
Clashes in the area triggered the killing of two local militants belonging to the region's indigenous militant outfit Hizbul Mujahideen (HM). Hundreds of youth took to roads in the town and adjacent areas to protest their killing.
Indian military spokesman in Srinagar Col. N N Joshi told Xinhua that the militants were killed in a gunfight in the morning in adjacent Shopian district.
"We had information about the presence of militants in Vihil village of Shopian and no sooner our party reached there, it was fired upon, thereby triggering a gunfight," Joshi said. "In the ensuing gunfight two top militants of HM identified as Waseem Malla and Naseer Pandit were eliminated."
Reports said the duo tried to break off the cordon firing indiscriminately but were killed in a field outside.
In the past two days four militants have been killed. Police officials said Thursday killings were a major blow to the HM militant outfit.
As the news about killing of militants reached people in the village and adjacent areas, hundreds of people from Shopian and Pulwama gathered to take part in mourning and funeral prayers.
The mourners including women and young children shouted slogans demanding freedom from Indian rule during the funeral procession. The protesters also chanted slogans denouncing India and in favour of Pakistan.
Police fired tear gas shells and warning shots to stop the protesters from marching on the main road. However, the protesters defied the police warning and clashed with police.
So far there were no reports of any injuries in the clashes which according to reports were going on.
On Tuesday evening, a militant of HM was killed in a similar gunfight.
Anti-India sentiment runs deep in the psyche of majority of Kashmiris.
A separatist movement and guerilla war challenging New Delhi's rule is going on in Indian-controlled Kashmir since 1989. Gunfights between the two sides take place intermittently across the region.
Kashmir, the Himalayan region divided between India and Pakistan is claimed by both in full. Since their Independence from Britain, the two countries have fought three wars, two exclusively over Kashmir.
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