Contactless transactions surge in the UK

Contactless Payments in the UK Barclaycard have reported that contactless transactions surged in the UK during 2021. Data: Barclaycard & Graphic: Northey Point Taking friction out of purchases The increase to the £100 payment limit has been a great opportunity to take friction out of the purchase experience. This is especially the case in busy... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 23 January 2022. Key observations for the week ending 23 January 2022: The volume of ATM transactions increased by 2% when compared to the previous week in 2022. The volume of ATM transactions increased by 23% when compared to the equivalent week in 2021. The volume of ATM transactions... Continue Reading →

Pay by Link: Central Bank steps in

Help me out here ... how can 'pay by link' even be a thing? Back in issue 207 of Payments:Unpacked we asked how can 'pay by link' even be a thing? Pay by link is growing in use within the financial services industry, as banks and other financial services companies adopt the mechanism in their apps to service growing... Continue Reading →

Payments Tracker

In this first round up of retail payments in 2022, with increased Covid restrictions still in place for the period under review, we see the impact on the volume and value of payments processed in the UK. Note: All data is publicly sourced and is the latest available: Pay.UK December 2021, Link January 2022 and... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 16 January 2022. Key observations for the week ending 16 January 2022: The volume of ATM transactions increased by 11% when compared to the previous week in 2022. The volume of ATM transactions increased by 23% when compared to the equivalent week in 2021. The volume of ATM transactions... Continue Reading →

Podcast: What is Request to Pay? Featuring Peter Cornforth from Answer Pay

In this first episode of the new Payments:Unpacked podcast series (Series 1, Episode 1) we shine a light on the UK's new bill payments overlay service - Request to Pay.  We are joined by Peter Cornforth, Commercial Director from Answer Pay - the UK's first accredited Request to Pay provider. Peter describes what Request to Pay is, considers the benefits to both the biller and... Continue Reading →

Authorised Push Payment (APP) Scams

Northey Point’s response to the Payment Systems Regulators consultation on Authorised Push Payment (APP) Scams (CP21/10). Introduction This paper sets out Northey Point’s response to the PSR’s Authorised Push Payment (APP) Scams consultation (CP21/10). Mike Chambers is a recognised authority on retail payments and, as Chief Executive Officer, led Bacs Payment Schemes Limited (Bacs), the... Continue Reading →

Accessing the UK’s Interbank Payment Systems

The Payment Systems Regulator (PSR) has published (January 2022) their latest access and governance report showing trends and developments in interbank payment systems for the period 2019 and 2020.  The report is aimed at anyone with an interest in access trends for interbank systems, and in their governance arrangements. This includes payment system operators, PSPs, existing and... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 9 January 2022. Key observations for the week ending 9 January 2022: The volume of ATM transactions increased by 9% when compared to the previous week in 2022. The volume of ATM transactions increased by 12% when compared to the equivalent week in 2021. The volume of ATM transactions... Continue Reading →

A “nation-wide” problem

You wait ages and then three buses turn up at once The old joke that you wait ages for one bus, then three come along at once, is bordering on cliché. But, according to City Monitor, it also turns out to be true and not just because of bad planning, but also because of maths1. The... Continue Reading →

Integrated Payment Systems – finding the right digital solution

A guest blog by: Card Industry Professionals. In a recent blog, Integrated Payment Systems, digital solutions where size no longer matters, we discussed the benefits of joined up systems for companies of all sizes. In this blog we consider why businesses simply stop at a standalone card accepting system when there are many other options available. Integrating systems yields many more benefits –... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 2 January 2022. Key observations for the week ending 2 January 2022: The volume of ATM transactions decreased by 26% when compared to the previous week in 2021. The volume of ATM transactions increased by 10% when compared to the equivalent week in 2020. The volume of ATM transactions... Continue Reading →

The end of BECS?

In Australia the Bulk Electronic Clearing System (BECS) governs how direct debits, automatic payments, bill payments, and direct credits work. BECS governs how a range of bulk electronic transaction types are made between its Participants. BECS covers direct debits, automatic payments, bill payments and direct credits. The launch of the New Payments Platform (NPP) in Australia provides... Continue Reading →

Cashback Without Purchase

Wave after wave of bank branch closures The Independent closed 2021 with the startling claim that “Nearly half of banks’ branches ‘have been lost since 2015 or are set to shut”.1 In the article Which? raised their concerns over bank branch closures: ‘Wave after wave’ of bank branch closures have left many people who depend... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 26 December 2021. Key observations for the week ending 26 December 2021: The volume of ATM transactions decreased by 6% when compared to the previous week in 2021. The volume of ATM transactions increased by 16% when compared to the equivalent week in 2020. The volume of ATM transactions... Continue Reading →

Payments Tracker

In this last round up of retail payments in 2021, with Covid restrictions under review, we see the impact on the volume and value of payments processed in the UK. Note: All data is publicly sourced and is the latest available: Pay.UK November 2021, Link December 2021 and UK Finance September 2021. Source: Pay.UK Limited... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 19 December 2021. Key observations for the week ending 19 December 2021: The volume of ATM transactions increased by 5% when compared to the previous week in 2021. The volume of ATM transactions increased by 2% when compared to the equivalent week in 2020. The volume of ATM transactions... Continue Reading →

SEPA Request to Pay

European Payments Council SEPA RtP Second Version - a guest blog from Peter Cornforth, Commercial Director at Answer Pay. An early Christmas present to European payments industry nerds (myself included) landed on Tuesday 30th Nov, with the second iteration of the European Payments Council (EPC) rulebook. Using ISO20022 standards for Request to Pay (RtP) messages as a... Continue Reading →

Keep it real like Ian Beale

Introducing the Interactive Advance Notice For those not in the UK and wondering about the significance of Ian Beale, he is an anti-hero character from the East Enders cinematic universe.  Think the UK equivalent of Marvel or DC.  He also shares a name with the latest development from Pay.UK: “IAN”.  Or to give it it’s... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 12 December 2021. Key observations for the week ending 12 December 2021: The volume of ATM transactions decreased by 3% when compared to the previous week in 2021. The volume of ATM transactions increased by 1% when compared to the equivalent week in 2020. The volume of ATM transactions... Continue Reading →

New Payments Architecture (NPA) regulatory framework published

The PSR have published their regulatory framework for the New Payments Architecture (NPA) central infrastructure services (CIS) following a consultation on the delivery and regulation of the NPA.  The NPA framework has been developed taking account of responses to that consultation and aims to address risks to competition and innovation in the NPA ecosystem arising from the behaviour of... Continue Reading →

Agency Banking: Holding customers back

In this blog we feature a point of view from Andrew Smith, CTO, Founding Member RTGS.global and ClearBank. In his blog Andrew considers whether agency banking is holding customers back. Agency Banking If you are new to the term “agency banking” then think of it simply as this, most banks are actually customers of bigger banks. The bigger banks... Continue Reading →

Which country leads real-time payments?

Just before the pandemic hit is I was in the Middle East talking payments strategy. The UK’s Faster Payments system was described as ‘the granddaddy of all instant payment systems’, this made me proud of what we have achieved in the UK payment space (and my small part in it!) What also became clear is... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 5 December 2021. Key observations for the week ending 5 December 2021: The volume of ATM transactions increased by 4% when compared to the previous week in 2021. The volume of ATM transactions increased by 4% when compared to the equivalent week in 2020. The volume of ATM transactions... Continue Reading →

Bitcoin and United States Notes

There was once a new currency that allowed for anonymous transactions and was issued in a fixed total amount in order to stabilise its value. However, it was a fiat currency, not pegged to gold or another fixed asset. Not surprisingly this novel currency was highly volatile in value, constantly rising and falling. Its introduction... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 28 November 2021. Key observations for the week ending 28 November 2021: The volume of ATM transactions decreased by 2% when compared to the previous week in 2021. The volume of ATM transactions increased by 10% when compared to the equivalent week in 2020. The volume of ATM transactions... Continue Reading →

From Morse code to Monzo

Raconteur have been thinking about the history of Fintech. Innovations in the financial sector have transformed the way we save, spend and trade. Banking systems, which once relied on London bank clerks meeting in the Six Bells tavern to exchange cheques, are now automated thanks to advances in technology.  Customers have also benefitted, with a slew... Continue Reading →

Digital solutions where size no longer matters

Credit card usage has grown exponentially since the launch of Barclaycard in 1966 and card payments overall from the first debit card, also from Barclays, in 1987.  The move from paper vouchers to electronic processes led to greater growth in businesses offering card acceptance but entry and fixed monthly costs still meant that, until relatively recently,... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 7 November 2021. Key observations for the week ending 7 November 2021: Last week the volume of ATM transactions decreased by 2% when compared to the previous week in 2021. Last week the volume of ATM transactions increased by 8% when compared to the equivalent week in 2020. Last... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 31 October 2021. Key observations for the week ending 31 October 2021: Last week the volume of ATM transactions increased by 5% when compared to the previous week in 2021. Last week the volume of ATM transactions increased by 5% when compared to the equivalent week in 2020. Last... Continue Reading →

Payments Tracker

In this October round up of retail payments, as restrictions have eased but caution remains, we see the impact on the volume and value of payments processed in the UK. Note: All data is publicly sourced and is the latest available: Pay.UK September 2021, Link October 2021 and UK Finance July 2021. Source: Pay.UK Limited... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 24 October 2021. Key observations for the week ending 24 October 2021: Last week the volume of ATM transactions decreased by 2% when compared to the previous week in 2021. Last week the volume of ATM transactions increased by 2% when compared to the equivalent week in 2020. Last... Continue Reading →

Don’t miss a trick

As Black Friday approaches, HSBC has enlisted magician Troy von Scheibner to show Brits how fraudsters play mind games designed to gain victims' trust and pressure them into handing over personal information. Don't miss a trick Purchase scams - where fraudsters trick shoppers into paying in advance for goods or services that are never received... Continue Reading →

ATM Tracker

Weekly ATM value and volume figures 17 October 2021. Key observations for the week ending 17 October 2021: Last week the volume of ATM transactions decreased by 1% when compared to the previous week in 2021. Last week the volume of ATM transactions increased by 3% when compared to the equivalent week in 2020. Last... Continue Reading →

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