Weekly ATM value and volume figures 24 January 2021. Key observations for week ending 24 January: Last week ATM transactions increased by 0.4 million (when compared to the previous week). Last week’s ATM transactions were 21.1 million less than the equivalent week in 2020. With the impact from Lockdown 3.0 continuing, weekly ATM use has reduced by 48% (compared to […]
Statista report that most South Koreans wouldn’t trade their cashless payments for anything. In Japan, Spain and France between 60 and 67 percent of people prefer cashless payments and the least people were in favour of cashless payments were in the Philippines at 33 percent. The share of respondents who said they preferred to pay without cash in selected countries: Source: […]
On Friday Trilo powered the first POS/in-person payment with Open Banking. Until then customers could only pay in shops via card or cash, now this has changed. Trilo gives merchants and customers the ability to make and receive payments with no hardware or software required. Merchants can use their tablet or phone to create a payment. The customer then scans the QR code. Customers […]
Card payments would have been introduced on North Isles ferries by now if it wasn’t for coronavirus restrictions, councillor says. Source: Shetland News. A former banking industry chief who visited Shetland while attempting to live without using notes or coins in a “cashless” experiment has welcomed trials of card payments on inter-island ferries. Having to pay by cash or cheque […]
M-Pesa success factors and what it can mean for the UK’s Request To Pay In this guest blog Peter Cornforth (Commercial Director at Answer Pay) takes a look at how the success of M-Pesa might act as a reference point for the UK’s Request to Pay eco-system. Peter writes: In this article I wanted to look at the success factors in growing a two-sided […]
In this January round up of retail payments, we see whether the easing of some restrictions following the second national lockdown impacted the volume and value of payments processed in the UK. Note: All data is publicly sourced and is the latest available: Pay.UK December 2020, Link January 2020 and UK Finance October 2020. Source: Pay.UK Limited Bacs Direct Debit […]
A survey from Pay.UK has found that the North East has the highest proportion of SMEs switching bank accounts: And the West Midlands has the lowest: More about the research from Pay.UK: SME Switchers. Current Account Switching Winners and losers Next week the next tranche of CASS performance and bank winners and losers are due to be published. You can check out the Q3 2020 data […]
Weekly ATM value and volume figures 24 January 2021. Key observations for week ending 24 January: Last week ATM transactions increased by 0.4 million (when compared to the previous week). Last week’s ATM transactions were 21.1 million less than the equivalent week in 2020. With the impact from Lockdown 3.0 continuing, weekly ATM use has reduced by 48% (compared to […]
Statista report that most South Koreans wouldn’t trade their cashless payments for anything. In Japan, Spain and France between 60 and 67 percent of people prefer cashless payments and the least people were in favour of cashless payments were in the Philippines at 33 percent. The share of respondents who said they preferred to pay without cash in selected countries: Source: […]
On Friday Trilo powered the first POS/in-person payment with Open Banking. Until then customers could only pay in shops via card or cash, now this has changed. Trilo gives merchants and customers the ability to make and receive payments with no hardware or software required. Merchants can use their tablet or phone to create a payment. The customer then scans the QR code. Customers […]
Card payments would have been introduced on North Isles ferries by now if it wasn’t for coronavirus restrictions, councillor says. Source: Shetland News. A former banking industry chief who visited Shetland while attempting to live without using notes or coins in a “cashless” experiment has welcomed trials of card payments on inter-island ferries. Having to pay by cash or cheque […]
M-Pesa success factors and what it can mean for the UK’s Request To Pay In this guest blog Peter Cornforth (Commercial Director at Answer Pay) takes a look at how the success of M-Pesa might act as a reference point for the UK’s Request to Pay eco-system. Peter writes: In this article I wanted to look at the success factors in growing a two-sided […]
In this January round up of retail payments, we see whether the easing of some restrictions following the second national lockdown impacted the volume and value of payments processed in the UK. Note: All data is publicly sourced and is the latest available: Pay.UK December 2020, Link January 2020 and UK Finance October 2020. Source: Pay.UK Limited Bacs Direct Debit […]
A survey from Pay.UK has found that the North East has the highest proportion of SMEs switching bank accounts: And the West Midlands has the lowest: More about the research from Pay.UK: SME Switchers. Current Account Switching Winners and losers Next week the next tranche of CASS performance and bank winners and losers are due to be published. You can check out the Q3 2020 data […]
Weekly ATM value and volume figures 17 January 2021. Key observations for week ending 17 January: Last week ATM transactions increased by just 0.2 million (when compared to the previous week). Last week’s ATM transactions were 19.8 million less than the equivalent week in 2020. With the impact from Lockdown 3.0 continuing, weekly ATM use has reduced by 47% (compared […]
Almost two-thirds (62 per cent) of UK citizens say they are in “better control” of their money now than before COVID, according to research. Global software consultancy ThoughtWorks commissioned research among over 2,000 UK adults about how technology had changed their banking habits during the pandemic. Almost one-in-three people (31 per cent) said they don’t use cash any more, and 22 per […]
Getting to grips with the UK’s retail payments landscape is no longer a complex and daunting task. The “Payments Landscape:Unpacked” briefing from Mike Chambers at Northey Point describes the UK’s retail payment instruments, outlines the eco-system that supports the operation of these systemically important payment systems, presents the actors and describes the UK’s payments landscape. Starting on the 23 February […]
It all stared with a Which? Super Complaint in 2017 demanding that banks in the UK must do more to protect its customers from Authorised Push Payment (APP) fraud. In 2020 the Confirmation of Payee (CoP) service was launched in UK to help reduce fraud and misdirected payments. Confirmation of Payee helps protect consumers and businesses from certain types of […]
Weekly ATM value and volume figures 10 January 2021. Key observations for week ending 10 January: Last week ATM transactions increased by 1.4 million (when compared to the previous week). Last week’s ATM transactions were 19.0 million less than the equivalent week in 2020. After some recovery during December, weekly ATM use has reduced by 46% (compared to the equivalent […]
The Inclusion Foundation highlights that 1.23m of the UK’s most vulnerable do not have access to a bank account and such disadvantaged segments of society find it very challenging to pay and get paid. They report that the problem is being further exasperated by the social isolation measures put in place to curb the spread of COVID-19, which is having an unintended […]
In 2020 the Confirmation of Payee (CoP) service was launched in UK to help reduce fraud and misdirected payments. Confirmation of Payee helps protect consumers and businesses from certain types of fraud and misdirected payments by letting them know if the account name they have entered matches the account name of the recipient. The Confirmation of Payee service seeks to […]
On ITV Tonight Adnan Sarwar reported on a cashless society – the programme was called: ‘Has Cash Been Cancelled?” As the UK transitions to a digital society it is inevitable that the use of physical cash will decline – a transition that has been accelerated by the COVID pandemic. Against the backdrop of the views expressed on tonights ITV programme […]
Fintech company Answer Pay has made two strategic board appointments to support its growth plans. Mike Chambers joins the company as chairman and Finbarr Joy as a non-executive director. Mike is a highly experienced board director with a wealth of experience in the payments industry. He was previously chief executive of Bacs and is also an ambassador for the Emerging […]
