In this fifth round up of retail payments in 2023, for the 12 months to the end of April 2023, we continue to see double digit growth in the volume and value of Faster payments and double digit decline in paper clearing. The growth in volume and value for the UK's bulk clearing scheme are... Continue Reading →

In this fourth round up of retail payments in 2023, for the 12 months to the end of March 2023, we continue to see double digit growth in the volume and value of Faster payments and double digit decline in paper clearing. The growth in volume for the UK's bulk clearing scheme and the UK's... Continue Reading →

UK Residents cards in issue Source: UK Finance Card transactions by UK cardholders both in the UK and overseas: There were 2 billion debit card transactions in January, 13.4 per cent more than in January 2022. The total spend of £64.7 billion was 12.1 per cent higher than January 2022. There were 321.3 million credit... Continue Reading →

In this third round up of retail payments in 2023, for the 12 months to the end of February 2023, we continue to see double digit growth in the volume and value of Faster payments and double digit decline in paper clearing. The growth in volume and value for the UK's bulk clearing scheme and... Continue Reading →

In this second round up of retail payments in 2023, for the 12 months to the end of January 2023, we continue to see double digit growth in the volume and value of Faster payments and double digit decline in paper clearing. The growth in volumes for the UK's bulk clearing scheme and the UK's... Continue Reading →

In this first round up of retail payments in 2023, which covers the 12 months to December 2022, double digit growth in Faster payments and double digit decline in paper clearing continues with a steady state for the UK's bulk clearing scheme and growth in the volume and value of the UK's real time gross... Continue Reading →

Source: UK Finance The UK Finance Update for October 2022 reports: Card transactions by UK cardholders both in the UK and overseas: There were 2.2 billion debit card transactions in October, 12.4 per cent more than in October 2021. The total spend of £66.6 billion was 9.1 per cent higher than October 2021. There were... Continue Reading →

What's more important in a payment system - volume or value? A central banker might argue value but as a former custodian of the UK's systemically important retail payment schemes I'd argue volume any day! In this video we explore the digital growth and analogue decline of the UK's Bacs, Faster Payments and cheque payment... Continue Reading →

Will Payment Service Providers (PSP) prosper going forward? A guest blog by John Bertrand As domestic payment fees 'go towards zero', how will PSP make any monies from the payments business, especially if the PSP is a non-bank1 and is OpenBanking an opportunity or challenge to PSPs? Taking a look at the PSP market size in the... Continue Reading →

https://youtu.be/ff-3qYQh9wQ Alex Preece from Tillo joins us for our latest Payments:Unpacked video podcast. Alex unpacks: - How rewards, incentives and gifts network for the digital age are transforming the gift card market. - How Tillo helps companies build loyalty, both attracts and retains customers and brings value to payments. - How the Tillo loyalty platform... Continue Reading →

Teresa Connors from Payment Matters joins us for our latest Payments:Unpacked video podcast. If you have not met Teresa yet here is an endorsement from her Linked In profile: "“…simply superb, a wealth of experience in the financial services industry and with a huge network to call upon – a true payments professional with infectious... Continue Reading →

In this final round up of retail payments in 2022, we see how the UK's bulk clearing scheme is holding is own, compare double digit growth in instant payments with double dight decline in the last bastion of paper clearing and, we are grateful, that the UK's real time gross settlement system remains a mystery... Continue Reading →

As a reader of Payments:Unpacked you will know that payment systems are vital to the UK economy and play a remarkable role in ensuring that payment for the goods and services we all consume are efficient, safe, resilient and friction-free. One remaining area of payment friction is actually asking someone for some money to settle up for... Continue Reading →

In this eleventh round up of retail payments in 2022, we see the impact on the volume and value of payments processed in the UK as we now 'live with Covid' with similar conditions in the equivalent months in 2021 following the lifting of restrictions at the end of Lockdown 3.0. Note: All data is... Continue Reading →

As a reader of Payments:Unpacked you will know that payment systems are vital to the UK economy and play a remarkable role in ensuring that payment for the goods and services we all consume are efficient, safe, resilient and friction-free. On its website home page the UK’s payment system regulator states: Every time anyone uses a cash... Continue Reading →

In this tenth round up of retail payments in 2022, we see the impact on the volume and value of payments processed in the UK as we 'live with Covid' with similar conditions in the equivalent months in 2021 following the lifting of restrictions at the end of Lockdown 3.0. Note: All data is publicly... Continue Reading →

In this ninth round up of retail payments in 2022, we see the impact on the volume and value of payments processed in the UK as we 'live with Covid' with similar conditions in the equivalent months in 2021 continuing as restrictions had been lifted at the end of Lockdown 3.0. Note: All data is... Continue Reading →

In this eighth round up of retail payments in 2022, we see the impact on the volume and value of payments processed in the UK as we 'live with Covid' with the comparison now with similar conditions in the equivalent months in 2021 as restrictions had been lifted at the end of Lockdown 3.0. Note:... Continue Reading →

In this seventh round up of retail payments in 2022, we see the impact on the volume and value of payments processed in the UK as we 'live with Covid' with the comparison now with similar conditions in the equivalent months in 2021 as restrictions had been lifted at the end of Lockdown 3.0. Note:... Continue Reading →

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 →

ACI Worldwide have announced that they have joined UK Finance as an associate member. Working together, UK Finance and their associate members aim to ensure that the UK retains its position as a safe and transparent global leader in financial services, placing the interests of customers at the heart of their work. ACI Worldwide ACI... Continue Reading →

It was my privilege to be the key note speaker at the Fintech North 'future of payments' conference in Manchester.  My talk outlined developments in the payments landscape, how the pandemic accelerated digitalisation and encouraged us to embrace digital payments. https://youtu.be/EawCAsW0Dmo My talk also touched on other themes such as: Is Britain ready to go... Continue Reading →

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 →

Some thoughts from my recent Q&A session with Access PaySuite on inflation and how it will affect subscription businesses: along with some ideas on how firms might respond to the challenge. How will a 10% inflation rise affect subscription businesses? Short and long term effects on the economy What can companies who use a subscription... Continue Reading →

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 →

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 →

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

In this second round up of retail payments in 2022, we see the impact on the volume and value of payments processed in the UK now Covid restrictions are easing, compared to Lockdown 3.0 conditions in 2021. Note: All data is publicly sourced and is the latest available: Pay.UK January 2022, Link February 2022 and... Continue Reading →

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 →

The Canadian payments landscape in nine facts from Payments Canada: Electronic payments represented 79 per cent of all transactions, compared to 77 per cent in 2019 – accounting for 15.8 billion transactions and representing 66 per cent of total payments value (the combined monetary value of total transactions) in 2020. Contactless payments grew dramatically, increasing 13 per... Continue Reading →

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 →

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 →

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 →

In this September round up of retail payments, as restrictions continue to ease, 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 August 2021, Link September 2021 and UK Finance June 2021. Source: Pay.UK Limited Bacs Direct... Continue Reading →

In this August round up of retail payments, as restrictions continue to ease, 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 July 2021, Link August 2021 and UK Finance May 2021. Source: Pay.UK Limited Bacs Direct... Continue Reading →

In this July round up of retail payments, as restrictions continue to ease, 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 June 2021, Link July 2021 and UK Finance April 2021. Source: Pay.UK Limited Bacs Direct... Continue Reading →

In this June round up of retail payments, as restrictions continue to ease, 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 May 2021, Link June 2021 and UK Finance March 2021. Source: Pay.UK Limited Bacs Direct... Continue Reading →

In this May round up of retail payments, as restrictions begin to ease, 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 April 2021, Link May 2021 and UK Finance February 2021. Source: Pay.UK Limited Bacs Direct... Continue Reading →

In this April round up of retail payments, we see the impact of the final month of Lockdown 3.0 on the volume and value of payments processed in the UK. Note: All data is publicly sourced and is the latest available: Pay.UK March 2021, Link April 2021 and UK Finance January 2021. Source: Pay.UK Limited... Continue Reading →

Card Industry Professionals (CIP) have appointed Mark Westwell as a Non-Executive Director and Chair of the Board. Card Industry Professionals have numerous years of experience within the card payments industry. CIP have witnessed and contributed to the evolution of how customers pay. With Debit Card payments having overtaken cash payments by 2017 (UK Finance – UK Payments... Continue Reading →

In this March round up of retail payments, we continue to see the impact of Lockdown 3.0 on the volume and value of payments processed in the UK. Note: All data is publicly sourced and is the latest available: Pay.UK February 2021, Link March 2021 and UK Finance December 2020. Source: Pay.UK Limited Bacs Direct... Continue Reading →

The COVID-19 pandemic has caused a profound and dramatic shift towards a digital society. All aspects of life in the UK are becoming increasingly digital, from purchasing our daily Latte, to accessing music or interacting with government. The digital shift was already happening, but it is absolutely clear that the pandemic has accelerated the transformation of how we pay for the goods and services we consume.... Continue Reading →

2020 catapulted payments years ahead of projections Source: Worldpay Worldpay have just published their annual global payments report.  The report promises an in-depth look at how consumers are paying from Argentina to Vietnam and which methods are set to take the world by storm.  Worldpay promise as insight you can’t find anywhere else! Download: Worldpay annual... Continue Reading →

The industry often talks about payments as if it’s one, homogeneous group. But in actual fact, that couldn’t be further from the truth. A ‘payment’ is simply the action of paying or being paid. But the method this action chooses in order to complete itself is completely variable. Today, customers are presented with a wealth of methods.... Continue Reading →

In this February round up of retail payments, we see the impact of Lockdown 3.0 on the volume and value of payments processed in the UK. Note: All data is publicly sourced and is the latest available: Pay.UK January 2021, Link February 2021 and UK Finance November 2020. Source: Pay.UK Limited Bacs Direct Debit and... Continue Reading →

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:... Continue Reading →

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.... Continue Reading →

In this December round up of retail payments, we see how the second national lockdown 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 November 2020, Link December 2020 and UK Finance September 2020. Bacs Direct Debit and... Continue Reading →

Payments: Unpacked Podcasts from Northey Point Occasional short podcasts from Northey Point Listen on your mobile device

Jonathan Jensen, Commercial Director Identity at GBG Plc and a member of the EPA’s Project Financial Crime, has written a guide: 'Digital Identity – update on the UK market', with information on the current state of the digital identity market, highlighting recent industry activity and developments.  Among the highlights: HMG response to digital identity Call for... Continue Reading →