Weekly ATM value and volume figures 13 March 2022. Key observations for the week ending 13 March 2022: The volume of ATM transactions decreased by 4% when compared to the previous week in 2022. The volume of ATM transactions increased by 18% when compared to the equivalent week in 2021. The volume of ATM transactions... Continue Reading →
Recurring Payments: 50 Years of faithful service After over 50 years of faithful service we are well versed on the subject of the Bacs Direct Debit. With 4.6 billion DD’s processed each year they are the pre-eminent form of collecting regular payments efficiently and cost effectively from our bank accounts. To date viable alternatives to Direct... Continue Reading →
My daily constitutional It takes me 26 minutes to complete my daily “Village 360” walk. A daily constitutional equating to 1,560 seconds - a short walk through the village, a quick look at the boats in the canal, a wander along the estuary and, finally, across a field to return home - all enhanced by... Continue Reading →
Cash anytime of the day as easy as ABC and other 1980’s adverts from the Griffin In this edition of Payments:Unpacked Payments Past we feature Midland Bank adverts from the 1980’s as told (mostly) by Richard Briers. https://youtu.be/Hy9RaZnevso
Weekly ATM value and volume figures 6 March 2022. Key observations for the week ending 6 March 2022: The volume of ATM transactions increased by 3% when compared to the previous week in 2022. The volume of ATM transactions increased by 21% when compared to the equivalent week in 2021. The volume of ATM transactions... Continue Reading →
In this blog we are pleased to feature a guest blog from Sarah Rutherford at FICO - in her blog Sarah explores how banks can stop Authorised Push Payment Fraud. How can banks stop Authorised Push Payment Fraud? A cross-party Treasury Select Committee has called on the UK government to do more to ensure that the victims of authorised push... Continue Reading →
Like many organisations, many of the UK’s charities and social enterprises have been hit hard by the pandemic. Nearly two years of on-off lockdowns hit face-to-face fundraising events – a key source of revenue for many charities – and cash donations. Some struggled to retain volunteers, while others faced an increase in demand for their... Continue Reading →
Weekly ATM value and volume figures 27 February 2022. Key observations for the week ending 27 February 2022: The volume of ATM transactions increased by 10% when compared to the previous week in 2022. The volume of ATM transactions increased by 16% when compared to the equivalent week in 2021. The volume of ATM transactions... Continue Reading →
https://open.spotify.com/episode/6jivyFTJ5WASXnZ7mVCJjT?si=krXmhzGITdeEOV1QCTnaTw In this Payments:Unpacked podcast we are joined by Paul Simpson from Sure Pay – Paul helps us unpack the UK's account name checking service Confirmation of Payee (CoP). Paul explains: - Why Confirmation of Payee is so important. - The phased roll out process adopted by the UK. - Considers a non bank use... Continue Reading →
A new report by Access PaySuite has revealed the fastest growing subscription services - with makeup and cinema subscriptions topping the list. Payments technology specialist, Access PaySuite, part of The Access Group, analysed Google search data to reveal which subscriptions categories have seen the biggest increase in searches over the course of 2021. Makeup subscriptions... Continue Reading →
Financial Services Regulatory Initiatives Forum In November 2021 the Financial Services Regulatory Initiatives Forum published an updated version of the Regulatory Initiatives Grid which is intended to help regulators identify and manage peaks in demand and give firms a clearer idea of the major upcoming initiatives across the main financial services authorities. In this blog we provide... Continue Reading →
https://open.spotify.com/episode/0z7s4zqeTqLVUE1NA2Q6CE?si=MK01YC1KTti7UVj6c1gJmw In this Payments:Unpacked podcast we are joined by Ciaran Savage from Card Industry Professionals - Ciaran helps us unpack card payments. Ciaran explains: - What are the noticeable shifts / trends within payments at a SME / SMB level. - Ciaran's view on what to expect over the next 12 - 18 months in... 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 →
Weekly ATM value and volume figures 20 February 2022. Key observations for the week ending 20 February 2022: The volume of ATM transactions decreased by 5% when compared to the previous week in 2022. The volume of ATM transactions increased by 13% when compared to the equivalent week in 2021. The volume of ATM transactions... Continue Reading →
The most common street name in the United Kingdom is “High Street”. Did you know that it is derived from the Old English word “heah” which means “most important”? Social historian Juliet Gardiner explains that “it was in the 1860s and 70s that the High Street as we know it came about. Because of urbanisation,... Continue Reading →
Largely driven by Gen Z and millennials, the subscriptions market has gone from strength to strength over the last few years. This increase may have been driven by the pandemic and the new need for the ‘insperience’, and businesses who do not offer a recurring payments model may be losing out on potential custom. Access... Continue Reading →
In December 2021 the Payment Systems Regulator (PSR) published an extension to Specific Direction 8 (SD 8) which requires LINK to do all it can to fulfil its commitment to maintain the broad geographic spread of free-to-use (FTU) ATMs. In this blog we provide a quick summary of the Specific Direction with relevant links to the PSR’s website. Extending... Continue Reading →
New data published by LINK, the UK’s main cash machine network, shows a continuing decline in ATM use in 2021 as UK banking customers withdrew £79bn from cash machines compared to £81bn in 2020. Five facts about ATM use in 2021 £79bn was withdrawn from ATMs in 2021 (£81bn in 2020). The number of LINK... Continue Reading →
I am delighted to have been selected as a judge for The PAY360 Awards 2022 (previously the Emerging Payments Awards), a ceremony dedicated to celebrating innovation and collaboration by recognising companies that have made significant advances in how we pay today. Now in its 15th year, The PAY360 Awards is the most prestigious event of the... Continue Reading →
In January 2022 the Payment Systems Regulator (PSR) published their initial remedies consultation for its card-acquiring market review. In this blog we provide a quick summary of the latest outcomes of the market review together with relevant links to the PSR’s website. What are card acquiring services and why do they matter? Every time somebody makes a... Continue Reading →
In October 2021 the Payment Systems Regulator (PSR) published the outcome of a regulatory review of protections available to consumers who make retail payments from one payment account directly to another. In this blog we provide a quick summary of the outcomes of the review together with relevant links to the PSR’s website. Consumer Protection - Call for... Continue Reading →
Weekly ATM value and volume figures 13 February 2022. Key observations for the week ending 13 February 2022: The volume of ATM transactions decreased by 2% when compared to the previous week in 2022. The volume of ATM transactions increased by 26% when compared to the equivalent week in 2021. The volume of ATM transactions... Continue Reading →
In December 2021 the Payment Systems Regulator (PSR) published their regulatory framework for the New Payments Architecture (NPA) central infrastructure services (CIS). In this blog we provide a quick summary of the regulatory framework and the associated Specific Directions together with relevant links to the PSR’s website. What is the New Payments Architecture (NPA) and why is it... Continue Reading →
We are pleased to feature a guest blog from Card Industry Professionals and focus on digital generosity by taking a look at the shift to online and contactless donations Card Industry Professionals are trusted providers of Card Payment facilities for UK based businesses. With a number of unique benefits, including No PCI Compliance Fees, No Authorisation Fees,... Continue Reading →
In this blog we shine a light on the latest developments in the UK’s Confirmation of Payee (COP) account name checking service. How it all started… It all started 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. This call to action... Continue Reading →
We are pleased to feature a guest blog from Lynton Buxton, Group Marketing Manager at The TALL Group of Companies - in his Point of View blog, Lynton shares his thoughts into the future of cheques in the UK. Lynton writes….. When only a cheque will do… When compact discs were first released in the 1980’s, people... Continue Reading →
In January (2022) the Payment Systems Regulator (PSR) published their latest strategy which sets out their priorities and what they aim to achieve over the next five years. In this edition of Payments:Unpacked Extra! we provide a quick summary of the strategy together with relevant links to the PSR’s website. Strategic priorities The PSRs strategy recognises areas where payments... Continue Reading →
Weekly ATM value and volume figures 6 February 2022. Key observations for the week ending 6 February 2022: The volume of ATM transactions increased by 0.3% 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 →
We are pleased to feature a guest blog from Timur Yunusov at Payment Village - Timur unpacks the topic of contactless cumulative limits and how they work. If you live in the UK, you might have noticed changes in how you pay with your contactless card in the last few years. It was fairly obvious back in... Continue Reading →
The European Payments Council (EPC) have shared a new video about the SEPA Request-to-Pay (SRTP) scheme. The Single Euro Payments Area (SEPA) Request-to-Pay (SRTP) scheme managed by the European Payments Council (EPC) covers a set of operating rules and technical elements (including messages) that allow a Payee to request digitally the initiation of a payment... Continue Reading →
Multiple payment options are an expectation from consumers these days and offering a subscription-based model can help you to stand out from the crowd. Download Access PaySuite’s new guide which delves into the growing world of subscriptions and how a Direct Debit solution could help to grow your business; Download: http://ow.ly/oCRO50HGy13
As the Chair of Answer Pay, I am super pleased to announce that OneBanks Hub, the shared branch banking innovator, is teaming up with Answer Pay to offer its Request to Pay bill payment services across the OneBanks network. Request to Pay allows customers to settle utility and other bills easily. It has been devised... Continue Reading →
Weekly ATM value and volume figures 30 January 2022. Key observations for the week ending 30 January 2022: The volume of ATM transactions increased by 6% when compared to the previous week in 2022. The volume of ATM transactions increased by 20% when compared to the equivalent week in 2021. The volume of ATM transactions... Continue Reading →
Current account switches increase by 36302 in Q4 compared to Q3 In this latest dashboard, we find out how many of us transferred our bank account in Q4 2021 and who the switching winners and losers were in Q3. The number of switches during 2021 As previously reported the previously steady state of Current Account... Continue Reading →
We are pleased to feature a guest blog from Sarah Rutherford at FICO - Sarah unpacks the topic of Authorised Push Payment fraud. Authorised push payment fraud has been made more attractive to criminals since the advent of real-time payment schemes, such as Faster Payments in the UK — crooks can quickly take the money and run. This... Continue Reading →
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 →
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 →
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 →
With analogue (cheque) payments representing just 1.5% of the total Bacs, CHAPS, Faster Payments and Image Clearing System volumes is it the right time to join the Bahamas and decide to donate the humble cheque to that vast imaginary museum - the Museum of Curiosity? A 17th Century Alternative To Cash Bills of Exchange began to... 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 →
In this blog we take a look at the publication of the LINK Consumer Council’s Annual Report for 2021 which provides some interesting insights into financial inclusion in the UK. The report summarises the work done in 2021 by the LINK Scheme Ltd Consumer Council who advise LINK on all their financial inclusion work, and has spearheaded... Continue Reading →
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 →
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 →
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 →
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 →
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 →
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 →
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 →
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 →
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 →
