Remittances in an envelope

In her “Liv On Money” blog series Olivia Minnock recounts discussions with older family members about how they’ve managed money throughout their life, in a world where FinTech didn’t exist (or, Olivia questions, did it?). With Olivia’s permission, we are publishing this fantastic historical insight into money remittances in full. The global remittance market is... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 07 August 2022. Key observations for the week ending 07 August 2022: The volume of ATM Transactions decreased by 26% when compared to the final week before the first COVID lockdown. The volume of ATM transactions decreased by 4% when compared to the previous week in 2022. The volume... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 31 July 2022. Key observations for the week ending 31 July 2022: The volume of ATM Transactions decreased by 23% when compared to the final week before the first COVID lockdown. The volume of ATM transactions increased by 1% when compared to the previous week in 2022. The volume... Continue Reading →

Creating an optimal, safe customer experience

Confirmation of Payee The Payment System Regulator (PSR) have recently consulted on their proposed next steps on delivering Confirmation of Payee – a consultation that plans to see over 400 more firms introduce the payment protection measure. The PSR’s desired outcome is to see this essential fraud protection service increase coverage from 92% of transactions made via... Continue Reading →

Podcast: Unpacking the UK’s New Payments Architecture

Unpacking the UK's New Payments Architecture In our latest Payments:Unpacked podcast we unpack the UK's proposed New Payments Architecture (NPA). Let's start with a quote by KMPG: At its heart, the NPA aims to streamline interbank payments into a single clearing and settlement system, replacing the numerous systems in place today. Initially, Faster Payments transactions will migrate to the... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 24 July 2022. Key observations for the week ending 24 July 2022: The volume of ATM Transactions decreased by 24% when compared to the final week before the first COVID lockdown. The volume of ATM transactions decreased by 1% when compared to the previous week in 2022. The volume... Continue Reading →

Protecting access to cash

In this blog we take a look at the topics of Access to Cash and Wholesale Cash Distribution which feature within the Financial Services and Markets Bill which is currently at its Second Reading in the House of Commons. Wherever you sit on the “cash spectrum” from cash being an important part of your payment mix to transitioning to less-cash or... Continue Reading →

A Meta-phor for missed banking opportunities?

This blog first appeared as a blog on Answer Pay’s website: Instagram payments, a Meta-phor for missed banking opportunities? Instagram launches payment service In case you missed it, Meta CEO Mark Zuckerberg recently announced a new “payments in chat” feature for Instagram.  According to Techcrunch this means:  ..users can purchase products from small businesses and track orders via direct messages... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 17 July 2022. Key observations for the week ending 17 July 2022: The volume of ATM Transactions decreased by 23% when compared to the final week before the first COVID lockdown. The volume of ATM transactions increased by 3% when compared to the previous week in 2022. The volume... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 10 July 2022. Key observations for the week ending 10 July 2022: The volume of ATM Transactions decreased by 25% when compared to the final week before the first COVID lockdown. The volume of ATM transactions decreased by 3% when compared to the previous week in 2022. The volume... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 03 July 2022. Key observations for the week ending 03 July 2022: The volume of ATM Transactions decreased by 23% when compared to the final week before the first COVID lockdown. The volume of ATM transactions increased by 3% when compared to the previous week in 2022. The volume... Continue Reading →

Fraud: We need to fight together

Fraud: The definitive overview Any report featuring the title ‘the definitive overview of payments industry fraud’ is never going to make easy reading and the newly published report by UK Finance for 2021 certainly does not make comfortable reading - an end of year report that can only conclude that we must all do better... Continue Reading →

Remedies: Card-acquiring market review

It may have taken some time but the Payment Systems Regulator (PSR) have today (29 June 2022) published a Provisional Decision in relation to remedies following their card-acquiring market review (CAMR). Why Does This Matter? Every time somebody makes a card payment – for example, when buying their weekly groceries – the merchant uses card-acquiring services to accept the... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 26 June 2022. Key observations for the week ending 26 June 2022: The volume of ATM Transactions decreased by 26% when compared to the final week before the first COVID lockdown. The volume of ATM transactions increased by 1% when compared to the previous week in 2022. The volume... Continue Reading →

Payments Tracker

In this sixth round up of retail payments in 2022, we see the impact on the volume and value of payments processed in the UK following the removal of Covid restrictions, compared now with similar conditions in the equivalent months in 2021 as we emerged from Lockdown 3.0 Note: All data is publicly sourced and... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 19 June 2022. Key observations for the week ending 19 June 2022: The volume of ATM Transactions decreased by 26% when compared to the final week before the first COVID lockdown. The volume of ATM transactions increased by 0% when compared to the previous week in 2022. The volume... Continue Reading →

Why speed matters

This blog first appeared on Vyne’s website: Why speed matters. How speed in payments can boost every part of your business The world has changed. Customer behaviour has changed. Business needs have changed. The pandemic has shown that in a blink of an eye, shopping can move almost completely online. It’s also shown us that plans... Continue Reading →

Preventing fraud and misdirected payments

Recently Pay.UK announced that the UK’s Confirmation of Payee (CoP) service had processed more than a billion messages. CoP provides an important tool in the ongoing fight against fraud to millions of personal and business bank account customers across the UK. The Payment Systems Regulator (PSR) published a consultation that sets out how the regulator will achieve widespread coverage of the... Continue Reading →

Where does Request to Pay go from here?

This blog originally appeared on Answer Pay’s website: Where does Request to Pay go from here? and was written by Ian Tomlin. Request to Pay (RtP) is the new messaging interoperability protocol being adopted across the UK to simplify bill payments. It’s been around for a couple of years now but—as this month the UK financial service industry... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 12 June 2022. Key observations for the week ending 12 June 2022: The volume of ATM Transactions decreased by 26% when compared to the final week before the first COVID lockdown. The volume of ATM transactions decreased by 3% when compared to the previous week in 2022. The volume... Continue Reading →

Is Britain ready to go cashless?

The cash census: not simply a case of ‘to cash and cash-not’ The cash census is a new piece of research from the RSA exploring the use of cash in an increasingly digital economy. This project aimed to understand the gap between those who reject cash and those who hold on to it; to understand in granular detail people’s attitudes... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 05 June 2022. Key observations for the week ending 05 June 2022: The volume of ATM Transactions decreased by 24% when compared to the final week before the first COVID lockdown. The volume of ATM transactions increased by 1% when compared to the previous week in 2022. The volume... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 29 May 2022. Key observations for the week ending 29 May 2022: The volume of ATM Transactions decreased by 25% when compared to the final week before the first COVID lockdown. The volume of ATM transactions increased by 4% when compared to the previous week in 2022. The volume... Continue Reading →

Podcast: Fraud, Consumer Knowledge and Solutions

Fraud, Consumer Knowledge, and Solutions Consumers might think they are too smart to be tricked or defrauded, but global fraud losses tell another story. The FICO expert panel discusses consumer knowledge surrounding fraud.  Featuring Michael Chambers, Chief Executive of financial consultancy Northey Point and former CEO of the Bacs Payment Scheme; and Sarah Rutherford, senior... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 22 May 2022. Key observations for the week ending 22 May 2022: The volume of ATM Transactions decreased by 27% when compared to the final week before the first COVID lockdown. The volume of ATM transactions decreased by 1% when compared to the previous week in 2022. The volume... Continue Reading →

Payments Tracker

In this fifth round up of retail payments in 2022, we see the impact on the volume and value of payments processed in the UK following the easing of Covid restrictions, compared to the final days of Lockdown 3.0 conditions in 2021. Note: All data is publicly sourced and is the latest available: Pay.UK April... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 15 May 2022. Key observations for the week ending 15 May 2022: The volume of ATM Transactions decreased by 27% when compared to the final week before the first COVID lockdown. The volume of ATM transactions decreased by 1% when compared to the previous week in 2022. The volume... Continue Reading →

Podcast: Fraud Matters 2/4

In this podcast it was my privilege to join FICO's Sarah Rutherford, senior director, portfolio marketing, for a discussion about the global perceptions of fraud management and customer experience. In this second of four podcasts we:  Discuss the impact of digital transformation on banking customer experiences.Ask are banks getting digitial transformation right when it comes... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 08 May 2022. Key observations for the week ending 08 May 2022: The volume of ATM Transactions decreased by 26% when compared to the final week before the first COVID lockdown. The volume of ATM transactions decreased by 7% when compared to the previous week in 2022. The volume... Continue Reading →

Podcast: Fraud Matters

It was my privilege to join FICO's Sarah Rutherford, senior director, portfolio marketing, for a discussion about the global perceptions of fraud management and customer experience. In this first of four podcasts we: Discuss the global perceptions of fraud management and customer experienceConsider what banks are getting right -and where there are opportunities to improveDiscuss the... Continue Reading →

Be sure who you pay

It has been my privilege to join SurePay at the 2022 Building Societies Annual Conference in Liverpool. The event was a great opportunity to think about the role of building societies in ensuring that the UK’s Confirmation of Payee service delivers “safer payments through (CoP) service ubiquity” or, as SurePay put it, “be sure who you pay”. Combating payment fraud In... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 01 May 2022. Key observations for the week ending 01 May 2022: The volume of ATM Transactions decreased by 21% when compared to the final week before the first COVID lockdown. The volume of ATM transactions increased by 12% when compared to the previous week in 2022. The volume... Continue Reading →

VRP APIs unveiled

TrueLayer has unveiled a recurring payments API capable of dealing with both sweeping and non-sweeping use cases. The Competition and Markets Authority(CMA) has mandated the UK’s nine largest banks to provide Variable Recurring Payments (VRPs) that support the automatic transfer of money between two accounts belonging to the same person.VRPs allow customers to connect authorised payments providers... Continue Reading →

Payments Tracker

In this fourth round up of retail payments in 2022, we see the impact on the volume and value of payments processed in the UK following the easing of Covid restrictions, compared to the final weeks of Lockdown 3.0 conditions in 2021. Note: All data is publicly sourced and is the latest available: Pay.UK March... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 24 April 2022. Key observations for the week ending 24 April 2022: The volume of ATM Transactions decreased by 29% when compared to the final week before the first COVID lockdown. The volume of ATM transactions decreased by 3% when compared to the previous week in 2022. The volume... Continue Reading →

Mike Chambers joins CIP as Non-Executive Director

As part of its continued growth strategy, Card Industry Professionals (CIP) is delighted to have appointed Mike Chambers as a Non-Executive Director.  Mike has a rich and varied career in the UK’s payment industry and brings a wealth of Fintech knowledge and experience. Mike was Chief Executive of Bacs Payment Schemes Limited (Bacs), the UK’s biggest... Continue Reading →

The great un-subscription

Source: Finextra. The pandemic fueled a mass subscription due to a shared feeling of all those stuck at home, boredom. As a result more people subscribed to Netflix with the streaming giant reaching 220 million subscribers globally. We clung to Netflix, our modern book club, as a way to connect with our loved ones.  Our text... Continue Reading →

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