New on Apple Podcasts
From today you’ll find “Payments, Payments, Payments” podcasts on the Apple Podcast app.
How did five sheep, one lamb and four grass-fed male kids make payment history?
In addition to finding out how these animals made payments history, in this weeks Payments, Payments, Payments you’ll also find about: Getting the right outcomes for victims of APP scams. Soft POS transforming mobile payments Tikkie Checks changing the way we pay at the restaurant A guest blog by John Bertrand on addressing payment fraud Checkout abandonment die to SCA […]
Addressing Payment Fraud and Bank Accounts in the new COVID 19 world
Instant money and instant fraud – how to reverse the trend of greater fraud, a guest blog by John Bertrand. UKFinance reported fraud grew 28% in 2019 to £456 million with Faster Payments, 73% of that total, growing at 33%. UKFinance noted 76% of the fraud comes from the internet and the banking industry covers 98% of the fraud losses. […]
Getting the right outcomes for the victims of APP fraud
Today, 6 August 2020, the Payments System Regulator (PSR) published a thought piece: Getting the right outcomes for the victims of Authorised Push Payment (APP) scams. An authorised push payment (APP) scam happens when someone is tricked into sending money to a fraudster. These crimes can have a devastating effect on those who fall victim. At the PSR, we think […]
What do clients and kids have in common?
The planet found itself gripped by a virus that knows no boundaries, democratic nations wilfully complied with imprisoning STAY AT HOME pleas, and ordinarily over crowded bustling cities were brought to a peaceful but eerie standstill. Even as we seem to be easing out of the crisis, what are small businesses most worried about whilst trying to work through (in […]
Avoiding a Payments Lockdown
The Emerging Payments Association (EPA), which celebrates collaboration and innovation across the emerging payments industry, has launched a review paper, ‘Avoiding a payments lockdown’, to present to the Financial Conduct Authority (FCA) and the Treasury following the shutdown of Wirecard Card Solutions Limited. The paper seeks to identify the current vulnerabilities of the business models that underpin the payments industry, highlight how […]
Outsourcing / third party management compliance and recent COVID 19 impacts
Outsourcing / third party management compliance and recent COVID 19 impacts This is a risk and compliance based guest blog by Northey Point associate Mark Rodgers. For more information visit: Regulatory and Compliance Corner. FCA regulated Firms whose business and operational models are materially dependent on third parties or who materially outsource core or critical functions are required to have compliant […]
Be our guest
As an ambassador for the Emerging Payments Association (EPA) I would like to invite you to join me as my guest at the EPA’s flagship conference PAY360, taking place virtually on the 4th & 5th August. The invite is completely complimentary. All you need to do is register here using discount code AMB20: https://pay360conference.online-event.co/registration/emerging-payments-2 There are some very exciting sessions on the agenda, including: […]
Current account switches fall as social distancing measures introduced
Today (30 July 2020) Pay.UK have published the Q2 2020 Current Account Switch Service (CASS) dashboard. Pay.UK’s headline provides the first insight into how the COVID19 pandemic has impacted the number of people choosing to switch their bank account – “Current account switches fall as social distancing measures introduced, almost 100,000 still switch in Q2 2020”. The quarterly dashboard provides […]
PSR announces development of new strategy for a changing world
The Payment Systems Regulator has announced the development of its future strategy. The PSR wants to hear from you now, before it formally consults, around the end of this year, to define clear outcomes for the payments sector – to set out priorities for the regulator, and what stakeholders can expect from the regulator in the future. Set up in […]
What do UK payments statistics tell us about Covid-19 measures?
Jonathan Williams, Principle Consultant and Director of Mk2 Consulting has published analysis of Payment Statistics for the UK from January to June 2020. Jonathan writes: There has been a lot of discussion of the economic impact of the lockdown measures on consumers and businesses. Suggestions of significant impact to GDP have been shown in other data sets but one source […]
HM Treasury: Payments Landscape Review: Call for Evidence
In light of rapid technology developments, HM Treasury is leading a Payments Landscape Review. HMT’s Call for Evidence is the first stage in the review. It sets out the government’s aims for payments networks in the UK, makes a high-level assessment of how well the present system is delivering against the government’s aims and asks questions about the opportunities, gaps […]
Authorised Push Payment (APP) Fraud: Contingent Reimbursement Model
The Lending Standards Board is consulting on how well measures for protecting consumers and refunding the victims of scams are working and have published a consultation document. Review of the Contingent Reimbursement Model Code for Authorised Push Payment Scams. The Contingent Reimbursement Model (CRM) Code was launched on 28 May 2019. The voluntary code sets out good industry practice for […]
Request to Pay: What is it and where’s the commercial opportunity?
Request to Pay, a new payment messaging service soon to be offered in the UK, could address payment friction. Instead of a paper bill, you’d be able to receive a payment request through an app on your phone, with the bill attached. You could decide to pay some or all of it there and then, clicking a few buttons to […]
More than a million checks a day
Pay.UK have announced that the newly launched Confirmation of Payee service is handling more than one million checks a day. Source: Pay.UK – Confirmation of Payee requests exceed one million per day. Confirmation of Payee is the UK’s new bank account name checking service that helps protect consumers and businesses from certain types of fraud and misdirected payments by letting […]
Collecting irregular payments
A guest blog by Don Hollingum from Direct Debit 101 – visit: www.directdebit101.co.uk Introduction Direct Debit has been working for thousands of organisations, both large and small, for over 50 years and its usage continues to grow both in terms of the number of organisations that use it and the number of payments collected – in excess of 4.5 billion payments […]