Payments News

On The Web

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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 […]
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Global

UK’s Supreme Court Rules Against Mastercard, Visa in Retailers’ Fees Battle

“Britain’s highest court on Wednesday upheld an earlier Court of Appeal ruling that credit card companies Visa and Mastercard restricted competition in the way they set fees for retailers, opening the way for them to seek compensation. The case, which dates back to 1992, was brought by retailers Sainsbury’s, Morrisons, Asda and Argos and relates […]
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On The Wires

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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.”
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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 […]
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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 […]
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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 […]
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Global

UK Finance Proposes Next Steps for Open Banking

“A future model for how the UK’s world-leading Open Banking (OB) functions can continue and progress once the current implementation phase ends early next year is set out today in a new report, Open Banking – Future State, by UK Finance in association with Accenture. The Competition and Markets Authority (CMA) final OB implementation roadmap is due […]