This week’s “Payments, Payments, Payments” newsletter’s Longer Read explored the purpose, role and activities of the payments regulator – The Payment Systems Regulator The call for a regulator to oversee the payment systems industry began with a series of reviews, starting with the Cruikshank Report in 2000. This was followed by a number of subsequent government-led reviews, reports and consultations. […]
Three times as many SMEs have been satisfied than dissatisfied with the COVID-19 support available from their bank or building society. Today (24 November 2020) Pay.UK published research on the impact of COVID-19 on SME business banking – the research was conducted by YouGov research and was commissioned by the Current Account Switch Service. Four in ten SMEs satisfied Overall, […]
Weekly ATM value and volume figures 22 November 2020. Key observations for week ending 22 November: Week ending 22 November saw a new low in weekly ATM transactions at 26.7m (a reduction of just 0.1m) – the lowest weekly volume of ATM transactions since early summer. Weekly ATM use has reduced by 43% (compared to equivalent week in 2019). Weekly […]
Join us for an afternoon of entertainment and a week’s networking at the virtual Emerging Payments Awards on the 26th of November. It’s free to attend for anyone in the payments industry and all registrants are entered into a prize draw to win one of 100 £50 reward vouchers, courtesy of our partner Banking Circle. Organised by the Emerging Payments Association, the #EPAwards […]
Pay.UK have published the number of Current Account Switches that took place in October. The number of switches has recovered from the Lockdown 1.0 levels but remain significantly less than February or March this year. More: Northey Point’s Current Account Switching tracker.
Getting to grips with the UK’s retail payments landscape can seem a complex and daunting task. The Payments, Payments, Payments newsletter from Mike Chambers at Northey Point explores a wide range of the UK’s payment news including: Open Banking, Request to Pay, Direct Debit, Confirmation of Payee, Bacs, CHAPS, Faster Payments, LINK, cash, cards and cheques and unpacks the eco-system that supports […]
In this November round up of retail payments, we see how the first national lockdown followed by an increasing level of local lockdowns continued to impact the volume and value and of payments processed in the UK. Note: All data is publicly sourced and is the latest available: Pay.UK October 2020, Link November 2020 and UK Finance August 2020. Bacs […]
This week’s “Payments, Payments, Payments” newsletter’s Longer Read explored the purpose, role and activities of the payments regulator – The Payment Systems Regulator The call for a regulator to oversee the payment systems industry began with a series of reviews, starting with the Cruikshank Report in 2000. This was followed by a number of subsequent government-led reviews, reports and consultations. […]
Three times as many SMEs have been satisfied than dissatisfied with the COVID-19 support available from their bank or building society. Today (24 November 2020) Pay.UK published research on the impact of COVID-19 on SME business banking – the research was conducted by YouGov research and was commissioned by the Current Account Switch Service. Four in ten SMEs satisfied Overall, […]
Weekly ATM value and volume figures 22 November 2020. Key observations for week ending 22 November: Week ending 22 November saw a new low in weekly ATM transactions at 26.7m (a reduction of just 0.1m) – the lowest weekly volume of ATM transactions since early summer. Weekly ATM use has reduced by 43% (compared to equivalent week in 2019). Weekly […]
Join us for an afternoon of entertainment and a week’s networking at the virtual Emerging Payments Awards on the 26th of November. It’s free to attend for anyone in the payments industry and all registrants are entered into a prize draw to win one of 100 £50 reward vouchers, courtesy of our partner Banking Circle. Organised by the Emerging Payments Association, the #EPAwards […]
Pay.UK have published the number of Current Account Switches that took place in October. The number of switches has recovered from the Lockdown 1.0 levels but remain significantly less than February or March this year. More: Northey Point’s Current Account Switching tracker.
Getting to grips with the UK’s retail payments landscape can seem a complex and daunting task. The Payments, Payments, Payments newsletter from Mike Chambers at Northey Point explores a wide range of the UK’s payment news including: Open Banking, Request to Pay, Direct Debit, Confirmation of Payee, Bacs, CHAPS, Faster Payments, LINK, cash, cards and cheques and unpacks the eco-system that supports […]
In this November round up of retail payments, we see how the first national lockdown followed by an increasing level of local lockdowns continued to impact the volume and value and of payments processed in the UK. Note: All data is publicly sourced and is the latest available: Pay.UK October 2020, Link November 2020 and UK Finance August 2020. Bacs […]
Grab a coffee and read Dave Birch’s latest Forbes article – PayPal’s Bitcoin Strategy Is Not About Bitcoin Given that the people who are great supporters of Bitcoin often talk about its key characteristic being that it is person-to-person, uncensorable value transfer you do have to wonder who will be using the new PayPal service that will allow them to pay merchants using the cryptocurrency. My […]
Weekly ATM value and volume figures 15 November 2020. Key observations for week ending 15 November: Week ending 15 November saw a new low in weekly ATM transactions at 26.8m – the lowest weekly volume of ATM transactions since early summer. The value of ATM transactions on Saturday 14 November was down by 46% (compared to equivalent day in 2019). […]
The Open Banking Implementation Entity (OBIE) has launched a consultation on variable recurring payments rules. The organisation, which was established in 2016 by the Competition and Markets Authority (CMA) to implement the infrastructure and Application Programming Interfaces (APIs) necessary for the roll out of Open Banking. The consultation, which launches today, marks the next step in the development on Open Banking in […]
Confirmation of Payee: Why it’s as important for your bank as it is for you. Catch the latest Payments Podcast from Bottomline where Olivia Armstrong unpacks the latest developments within the Confirmation of Payee name checking service. Does your bank have confirmation of payee in place? Whether it’s a small tick, or a logo, the fact your bank confirms the sort code […]
Request to Pay is a new, flexible way for bills to be settled between people, organisations and businesses. What is Request to Pay (RtP)? RtP is a messaging service that has been created to complement existing payments infrastructure and gives billers the ability to request payment for a bill rather than simply sending an invoice. For each ‘request’, customers will […]
Lloyds Banking Group selects Eazy Collect to deliver specialist Direct Debit solutions The Access Group has today (12 November 2020) announced it has been appointed by Lloyds Banking Group (LBG) to offer enhanced Direct Debit services to their customer base through Eazy Collect, acquired in 2019 by Access to enhance its payment processing capabilities. With payment fintechs, new digital banks […]
Manifesto Growth Architects believe those who succeed in the New Economics of Banking… 🙋🏼♂️ Know the role they want to play for their customers, and put this at the heart of everything they do. 📰 Go beyond transactions and drive engagement, learning from sectors such as media. 📊 Build data and technology capabilities to support real-time orchestrated journeys, centred around […]
On this day (12 November) in 1984 the BBC reported that the English pound note was to disappear after more than 150 years. News of the familiar green £1 note’s withdrawal had just been announced by the then Chancellor, Nigel Lawson, when he made his autumn statement in parliament. Mr Lawson said the note – popularly known as a “quid” […]
Mastercard’s Vocalink has won the contract to build the clearing and settlement infrastructure for Canada’s new real-time payments system. The decision comes more than 18 months after Payments Canada first picked Italian provider SIA over Vocalink and CGI for the contract. The three rivals had made a 2017 shortlist of bidders to help develop the country’s new ‘Real-Time Rail (RTR), […]
