Payments News
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Global

Cards remain king as UK consumers slow to support mobile payments

“Despite the hype, new research has revealed that mobile payments are almost as unpopular as cheques. In fact, the payment card is still the number one payment method when it comes to in-store purchases for UK consumers according to IDEX Biometrics. Three quarters (75%) of respondents stated that they use cards, including contactless, most often, compared to […]

On The Web

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Global

Wait Goes On For ‘Instant’ Payments

“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. […]
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Companies

Mastercard Is In Talks With UK Banks About Launching Cards With Fingerprint Scanners

“Mastercard is holding talks with banks in the U.K. about bringing biometric payment cards to market. The credit card firm has been testing cards with in-built fingerprint scanners, which are used to verify customers’ identities. This is intended to replace the use of passwords and speed-up the process of making payments online and contactless transactions in-store.”
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Global

UK Rregisters 8% Dip In Payments Card Fraud In 2017

“A new interactive map by analytic software firm FICO has revealed 8% decrease in payments card fraud across the UK in 2017, which is said to be the first drop since 2011. The map is based on data obtained from Euromonitor International and UK Finance, and analyses card not present (CNP) fraud changes in Europe. […]
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Global

Contactless topples Chip & Pin as UK’s top payment choice

“The latest figures from payment processor Worldpay say that contactless has now overtaken Chip & Pin payments, having already toppled cash transactions earlier this year. The company estimates that £38.5bn will be spent using contactless in the second half of 2018, with the volume of payments growing 30 per cent over the last year. Alongside this, WorldPay found that […]
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Global

Name checks to begin on bank payments

“The name of someone receiving a payment will be as important as their banking details for the first time from next summer, in an attempt to combat fraud. At present, anyone wanting to transfer money enters the intended recipient’s name, account number and sort code. However, the name is not checked. Under plans from the UK’s payments […]
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