Visa report one billion additional touch-free Visa payments made as consumers embrace contactless commerce. Visa report that: Less than a year since contactless limits increased across Europe, Visa has hit one billion additional touch-free transactions, 400 million of which took place in the UK. Consumers and merchants are increasingly turning to contactless payments as a secure and seamless way to shop […]
As the Payment System Regulator considers the responses to the call for views on Authorised Push Payment Scams Teresa Connors from Payment Matters considers whether the proposed measures to fight fraud might have unintended consequences. We are pleased to feature this perspective guest blog from Teresa Connors from Payment Matters. Only 45% of reported Authorised Push Payment (APP) losses are […]
Weekly ATM value and volume figures 11 April 2021. Key observations for week ending 11 April 2021 Last week ATM transactions decreased by 2.4 million (when compared to the previous week). Last week’s ATM transactions were 4.9 million more than the equivalent week in 2020. Weekly ATM use has increased by 24% compared to the equivalent week in 2020. Weekly […]
Akhil Rao has shared some insights on the adoption benefits of Real Time Payments (RTP). The ability to make payments in real-time comes with a number of capabilities and benefits. The most appealing of these to organizations is immediate access to receiving funds, transaction status, and control of cash flow. These assets created by RTP all serve to increase visibility into […]
Mark O’Keefe at Optima Consultancy has published a German Mobile Banking App review. Three take aways from Mark’s report: The challenger banks continue to raise the bar when it comes to what can be done in a mobile banking app. New entrant C24 have launched with a proposition stronger than most in the market and challengers continue to release features at a rapid pace. A […]
The UK’s Current Account Switching Service (CASS) plays a vital role in helping consumers and businesses make the most of their money by providing a simple and stress-free way to move their current account. In these unprecedented times, the smooth working of the service is more important than ever. Pay.UK have published the Current Account Switch Service Annual Report – three key […]
Research by American Express reveals that one third of UK consumers (33%) feel confident trying new online payment methods. Additionally, one in five (20%) report that the pandemic has made them more open to trying new forms of payment online, with the same number (20%) stating that it has also changed the way that they think about how they pay for products and services online. The […]
Covid-19 has had an unprecedented effect on people’s lives. Analysing this through the lense of consumer payments, the lockdown measures have had a colossal impact on the majority of businesses as they were forced to shut and people remained indoors in an effort to fight the virus. These measures suppressed normal behaviour and, as a result, suppressed normal spending patterns: […]
Tanya Thourani has been thinking about how Fintech’s make money and has come up with five models: Nice & Simple : Subscriptions or Service Fees. Make it count : Brokerage Fees. Most Lucrative : Third Parties. Oldest Buddy : Advertising. The Gold Mines : Data & APIs. Read Tanya’s blog: Five ways for a Fintech to make money.
Weekly ATM value and volume figures 4 April 2021. Key observations for week ending 4 April 2021 Last week ATM transactions increased by 1.7 million (when compared to the previous week). Last week’s ATM transactions were 7.5 million more than the equivalent week in 2020. Weekly ATM use has increased by 37% compared to the equivalent week in 2020. Weekly […]
Great to see The Times covering Ecospend’s pay-by-bank solution going live on the HMRC website, the first government department to adopt Open Banking payments. Paying your tax bill just got a whole lot easier. The 11 million people who fill out self-assessment forms online will no longer have to find credit card details, passwords or unique tax references when paying the taxman. Instead you will be given the […]
Fintech Rap Battle from Fintech Finance. Tom Blomfield and Monzo, take on Anne Boden and Starling in a throw down to decide who is the ultimate challenger bank.
Weekly ATM value and volume figures 28 March 2021. Key observations comparing the last “Stay at Home” week under Lockdown 3.0 with the first week experienced under Lockdown 1.0 Last week ATM transactions increased by 0.6 million (when compared to the previous week). Last week’s ATM transactions were 4.9 million more than the equivalent week in 2020. Weekly ATM use […]
The Payment Systems Regulator (PSR) have published their Annual Plan and Budget for 2021/22. The PSR state that their focus for the coming twelve months will be on work that will improve outcomes by encouraging competition and innovation where it is needed most and putting the interests of everyone who uses payment systems first. By doing this, the PSR wants to see people and […]
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 Market Summary June 2019) its […]
The PSR have today, 24 March 2021, published their aims, activities and expected costs for the year 2021/22. Hear Chris Hemsley, Managing Director at the Payment System Regulator introducing the regulators plan for the next 12 months: The PSR position the plan with the following statement: We regulate 40 billion payments worth more than £92 trillion each year. Our role […]