Payments News » Faster payments

Uncovered: cruel scam so slick even the vigilant can be duped

April 30 2018

“In 2017, UK bank customers lost more than £236m in so-called “authorised push-payment scams” where individuals are deceived into transferring money into a fraudster’s account. The scammers usually start with a phone call purporting to be from the police or a bank, or with an email from a cloned address masquerading as a payment request […]

Systems

UK Faster Payments Suffers Seriously Slow Service

July 10 2018

in
Faster payments

“The UK’s Faster Payments service experienced issues with its central infrastructure between 1-5.30pm on Sunday (8 July), causing delays to payments sent during that time. Faster Payments says the “vast majority” of the backlog of payments were processed later on 8 July, but it is aware that a “limited” number of payments that were submitted between 1-5.30pm […]

Global

Wait Goes On For ‘Instant’ Payments

July 11 2018

“A backlog of payments – including wages – that were blocked by an IT problem on Sunday has yet to be cleared, three days on from the glitch. Some bank customers have spoken of their frustration that payments had not yet reached their destination. The Faster Payments system should see money moved within two hours. […]