Payments News

On The Web

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Global

UK retail now sees more money spent online than on the high street: study

“UK shoppers now spend less money in shops than they do online, a new study suggests. Some 43% of spending, by volume, takes place in UK stores, while 57% takes place online, according to the Mastercard study. More than a quarter (27%) of all spending takes place using mobile devices, found the study. Some 20% was […]
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Global

Zopa, the UK P2P lending company, secures bank license

“Technically, however, this is only regulatory part one and Zopa’s bank licence comes “with restrictions,” meaning that it can’t launch fully just yet. Known as the ‘mobilisation’ phase of the license process, Zopa should eventually be granted a full licence once it meets various conditions set by the regulators.”
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Global

Payment Systems Regulator confirms market review into card acquiring services

“The PSR is carrying out this review following concerns that the market may not be working well for merchants, and therefore consumers. The regulator published the draft terms of reference for this market review in July 2018. The final terms of reference take into account the valuable feedback the PSR received during the consultation period.”
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Global

Pay.UK Brings Payment Brands Under One Roof

“Pay.UK is now the official home for retail payment services Bacs, Faster Payments, and Cheque and Credit Clearing. This is the final stage of bringing these payment brands together under the Pay.UK roof, and follows on from the announcement of the company’s name in 2018.”
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Global

Regulator Seeks Views on Competition Issues in UK’s Payments Architecture

“The Payment Systems Regulator (PSR) has issued a call for Input on competition issues that could arise in the UK’s New Payments Architecture (NPA) The regulator is inviting all interested parties to respond to a ‘call for Input’ which seeks to gather feedback on the likelihood of competition issues materialising in the NPA and how harmful […]
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