The five most important retail tech news stories of the week

It’s Friday, the week is nearly done, so let’s kick back and reflect on another eventful week for the retail technology space. Here's your briefing on some of the most important and interesting stories from the past five days.

1. Marks and Spencer announces Mobile Pay Go roll-out

M&S has expanded its Mobile Pay Go technology to 50 stores, following a trial across Edgware Road, Bankside, Waterside Paddington, West Hampstead, Canary Wharf and Stratford Westfield in London.

2. Sainsbury's opens first On the Go store in London

Sainsbury’s has taken the wraps off its new On the Go city convenience store format.

3. Laybuy closes pre-IPO round and announces Mastercard partnership

Buy now, pay later outfit Laybuy has closed its pre-IPO fundraising round, pulling in $15 million of fresh equity. Its ANZ region customers can also now use their accounts at any retailer that accepts Mastercard contactless technology.

4. Ocado head honcho Tim Steiner bags huge bonus

Ocado boss Tim Steiner has picked up a £54 million bonus, despite the online retailer posting a £214.5 million loss last year.

5. Major retailers hit out at ‘broken’ business rates system

Fifty two retailers, including Asda, Primark, Sainsbury’s, Debenhams and Poundland, have called on the government to take the first steps towards fundamental business rates reform in the upcoming budget.