Guest blog: David Fagleman, Enryo Limited. On the 23 June 2021 the new polymer £50 banknote, featuring Alan Turing, entered circulation, representing the final phase of UK currency modernisation, a project that started in 2015 with the polymer £5, followed by the 12-sided £1 coin (2016), the polymer £10 (2017) and polymer £20 (2020). With Scottish and Northern Irish note issuers also […]
Request to Pay ‘Lead or Lag?’ – When is the right time to begin your Request to Pay journey? Timed to coincide with the recent release of the Single Euro Payments Area Request-to-Pay (SEPA Request-To-Pay), AnswerPay recently held a virtual expert panel discussion which tackled the big questions that surround Request to Pay adoption including: when financial services companies should look to adopt it, what the technology […]
Current account switches increase by 44769 in Q2 In this latest dashboard, we find out how many of us transferred our bank account in Q2 2021 as restrictions eased and who the switching winners and losers were in the first three months of the year during Lockdown 3.0. The number of switches during 2021 As previously reported the steady state […]
Weekly ATM value and volume figures 25 July 2021. Key observations for the week ending 25 July 2021 Last week the volume of ATM transactions increased by 3% when compared to the previous week in 2021. Last week the volume of ATM transactions decreased by 1% when compared to the equivalent week in 2020. Last week the volume of ATM […]
Research commissioned by the Financial Conduct Authority and the UK’s Payment Systems Regulator finds that most people have reasonable access to cash through a combination of bank, building society, or Post Office branches and ATMs. The FCA and PSR estimate that 95.4% of the UK population are within 2km of a free cash access point and 99.7% are within 5 […]
New analysis shows over 90% of global economy exploring a central bank digital currency The Atlantic Council’s GeoEconomics Centre have launched a state-of-the-art Central Bank Digital Currency (CBDC) Tracker, offering a global look at the adoption of digital currency. The original version of the tracker (launched in April 2020) has been used by the Federal Reserve and the Bank of International Settlements across […]
It’s been nine months since our last newsletter survey, since then we have had amazing numbers of new subscribers and received great feedback (thank you). Over the past few weeks we’ve run a survey to see what our readers think about the Payments:Unpacked newsletter. The infographic below speaks for itself but here are the headlines: Top of the survey tree […]
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 Debit and Direct Credit In […]
Pay.UK has today named David Pitt as our new Chief Executive Officer. David will assume the role on 26 July, taking over from Interim CEO Matthew Hunt who will take up the newly-created role of Chief Strategy Officer, Deputy CEO. With a strong background leading organisations through periods of transitional change, and having been instrumental in delivering a number of […]
As the high street once again opens up to customers without restrictions, retailers’ thoughts will soon turn to restocking, upgrading and investing in new staff, fixtures and fittings. Now, thanks to CIP Capital, a new partnership between Card Industry Professionals (CIP) and YouLend, CIP merchants can access funding quickly and effortlessly, to help make improvements and keep the cash flowing […]
Weekly ATM value and volume figures 18 July 2021. Key observations for the week ending 18 July 2021 Last week the volume of ATM transactions decreased by 3% when compared to the previous week in 2021. Last week the volume of ATM transactions decreased by 3% when compared to the equivalent week in 2020. Last week the volume of ATM […]
The finalists for the 2021 EP Awards have just been announced! Find out who made the shortlist: https://bit.ly/3dWmeQn 2021 was my first year as an EP Awards judge and judging this year’s categories was exceptionally challenging. Not only did we receive a record number of entries, but the level of innovation seen within our sector in response to the pandemic over […]
In partnership with iFinance Academy, the EPA and Northey Point are pleased to be able to offer an all-in-one solution for payments businesses to train staff effectively and efficiently on both compliance and job skills topics. Choose from a library of interactive, CPD accredited online courses created specifically for payments professionals, or work with the team to create an online training package to meet your business’ requirements. Take a look at […]
The Bank of Ireland has launched a video tutorial series to give customers the skills and confidence to use digital banking services. In March, the bank outlined plans to shut a third of its branches as it reaches a digital “tipping point” between online and offline transactions – a long-term trend accelerated by the Covid-19 pandemic. However, the lender acknowledges […]
A thought provoking guest blog “Why Request to Pay, Europe’s answer to PayPal, Apple and Google, will change payment processes” by Stefan Walde of AirPlus has just been published in The Company Dime. Stefan’s article starts with this introduction: Stefan goes on to consider: RtP being competition for the classic credit card. RtP friend or foe? RtP no more back and forth authorisation. […]
It’s not a silver bullet but… It all stared 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. In 2020 the Confirmation of Payee (CoP) service was formally launched in UK to help reduce fraud and misdirected payments. Confirmation of Payee helps protect […]
