Payments News

On The Web

nbsp;

Global

The Payments Landscape in the UK After Brexit

“The UK payments industry highly values the work of the European Payments Council and its members ensured the UK retained its membership of the Single Euro Payments Area, which minimised payment disruption for millions of people and companies across Europe following Brexit. After decades of close collaboration and innovation between the UK and the    […]
nbsp;

Companies

Britain’s competition regulator sets out new regime for tech giants

“Britain’s competition watchdog outlined a new regime for regulating tech giants such as Google and Facebook, saying it needed new powers to harness the full potential of digital markets and drive competition and innovation. It proposed a new, legally binding code of conduct, pro-competitive interventions in the market and enhanced merger rules, overseen by a […]
nbsp;

Domains

Barclaycard wants to help UK businesses combat late payments

“A new service launched by Barclaycard aims to tackle late payments , save time and generate savings for its business customers. Barclaycard Payment Intelligence (BPI) will use data analytics to help provide a much more comprehensive overview of businesses and their supply chains. As a result, Barclaycard reckons that it will be able to help […]

On The Wires

nbsp;

Global

FICO UK Credit Market Report May 2021: Markedly Lower Year-On-Year Increase in Credit Card Spend Suggests Consumers Are Adjusting to ‘New Normal’

“Global analytics software provider FICO today released its analysis of UK card trends for May 2021, which suggests that some consumers are practicing pragmatic financial management, as well as continuing to make use of savings accrued during the pandemic. There are, however, warning signs of the financial pressure growing for those already in debt. Whilst the […]
nbsp; nbsp;

Global

Real Demand for Open Banking as User Numbers Grow to More than Two Million

“The Open Banking Implementation Entity (OBIE), the body set up by the Competition and Markets Authority (CMA) to deliver open banking in the UK, has today announced that over two million customers are now using open banking-enabled products*. This represents a significant upswing in the use of the innovative banking technology despite the disruptive effects […]
nbsp;

Global

UK Banks Outperform Rest of Europe in Reducing Card Fraud

“UK banks achieved the biggest reduction in card fraud losses last year among 18 countries across Europe, according to the updated FICO European Fraud Map. More than half of the countries saw increases in card fraud losses in 2019 according to the report, based on data from Euromonitor International and UK Finance.”
nbsp;

Companies

Deal between Visa and Plaid given the go-ahead

“The decision by the Competition and Markets Authority (CMA) follows a Phase 1 review in which it investigated several possible ways the deal could harm competition…The CMA’s investigation primarily focused on how the deal could affect competition in the UK consumer-to-business electronic payments sector in which Visa, through its card-based payments and Plaid, through its […]
nbsp;

Global

Confirmation of Payee Requests Exceed One Million Per Day

“The new, payment beneficiary name-checking service known as Confirmation of Payee (CoP) is now enabling more than 1 million name-checking requests per day, helping to protect consumers and businesses from certain types of fraud and misdirected payments. The end of June 2020 saw a number of UK banks and building societies complete their rollout of […]
nbsp;

Deals

Wagestream Goes Mainstream As It Completes a £20m Series B Funding Round

“Income streaming provider, Wagestream, which enables employees to access their earned wages in real time, today announced it has completed a £20m Series B funding round.  Wagestream, which enables staff to draw down a percentage of their earned wages any day of the month for a flat £1.75 fee, has seen demand for its product skyrocket among […]