With 2 million users, a deal with Starbucks, and $6 billion worth of transactions, Square is turning smartphones into checkouts, digitising loyalty schemes and reshaping how consumers spend – without using NFC technology.

In societies that are cash-rich but time-poor, gift cards have emerged as a popular solution. The gift card market in the UK alone is currently worth £4bn; and with smartphone penetration rising, gift cards are becoming digital.

David Birch is one of the foremost experts on digital money issues. We spoke with him after his talk at Lift12 on the long future of finance in an interview which touches on Bitcoin, Facebook Credits and banking with your supermarket.

American Express is synonymous with privilege and luxury – so its latest venture may seem surprising. Its Bluebird Bank helps Americans let down by traditional banking, who may not even have a bank account. What's driving the makers of the Black Card to bank the unbanked?