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Confirmation of Payee

Safer payments need service ubiquity

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 launched in UK to help reduce fraud and misdirected payments. Confirmation of Payee helps protect consumers and businesses from certain types of […]

Cash

Will you visit an ATM this year?

Weekly ATM value and volume figures 10 January 2021. Key observations for week ending 10 January: Last week ATM transactions increased by 1.4 million (when compared to the previous week). Last week’s ATM transactions were 19.0 million less than the equivalent week in 2020. After some recovery during December, weekly ATM use has reduced by 46% (compared to the equivalent […]

Banking

Meet the trailblazers

The Inclusion Foundation highlights that 1.23m of the UK’s most vulnerable do not have access to a bank account and such disadvantaged segments of society find it very challenging to pay and get paid.  They report that the problem is being further exasperated by the social isolation measures put in place to curb the spread of COVID-19, which is having an unintended […]

Confirmation of Payee

Confirmation of Payee: Six month scorecard

In 2020 the Confirmation of Payee (CoP) service was launched in UK to help reduce fraud and misdirected payments. Confirmation of Payee helps protect consumers and businesses from certain types of fraud and misdirected payments by letting them know if the account name they have entered matches the account name of the recipient. The Confirmation of Payee service seeks to […]

Cash

Has Cash Been Cancelled? A manifesto

On ITV Tonight Adnan Sarwar reported on a cashless society – the programme was called: ‘Has Cash Been Cancelled?” As the UK transitions to a digital society it is inevitable that the use of physical cash will decline – a transition that has been accelerated by the COVID pandemic. Against the backdrop of the views expressed on tonights ITV programme […]

Request to Pay

The UK’s first certified Request to Pay repository

Fintech company Answer Pay has made two strategic board appointments to support its growth plans.  Mike Chambers joins the company as chairman and Finbarr Joy as a non-executive director. Mike is a highly experienced board director with a wealth of experience in the payments industry. He was previously chief executive of Bacs and is also an ambassador for the Emerging […]

Cash

Did you visit an ATM last year?

Weekly ATM value and volume figures 3 January 2021. Key observations for week ending 3 January: Last week ATM transactions decreased by 5.6 million (when compared to the previous week). Last week’s ATM transactions were 17.9 million less than the equivalent week in 2019. After some recovery during December weekly ATM use reduced by 46% (compared to the equivalent week […]

RTGS

The road ahead (for RTGS)

The road ahead for RTGS Replacement & Message Standards. Sean Devaney, Vice President, Banking and Financial Markets, CGI, speaks during EBAday 2020 about the RTGS replacement programme, what the Bank of England is doing about the delays that SWIFT has announced to the ISO20022 roll out for international payments and what should they & the member banks be focused on.

Newsletter

Just published: Latest payments industry developments

Getting to grips with the UK’s retail payments landscape can seem a complex and daunting task. The Payments, Payments, Payments newsletter from Mike Chambers at Northey Point explores a wide range of the UK’s payment news including: Open Banking, Request to Pay, Direct Debit, Confirmation of Payee, Bacs, CHAPS, Faster Payments, LINK, cash, cards and cheques and unpacks the eco-system that supports […]

Cash

Did you visit an ATM last week?

Weekly ATM value and volume figures 27 December 2020. Key observations for week ending 27 December: Last week ATM transactions decreased by 5.6 million (when compared to the previous week). Last week’s ATM transactions were 10.9 million less than the equivalent week in 2019. Weekly ATM use has reduced by 29% (compared to equivalent week in 2019). Weekly LINK ATM […]

Newsletter

Most popular posts of 2020

The 12 most popular Payments, Payments, Payments posts of 2020: Retail payments movers and shakers. Podcast: Ten things you should know about Request to Pay. The pound in your pocket. Ten things you should know about Central Bank Digital Currencies. Hey there sir, want to switch your current account? What’s the story of receipts? Paym: the UK’s mobile payment system. Briefing: […]

Newsletter

Help grow Payments, Payments, Payments

Today we launch our new referral programme! With your help we can get our newsletter to the right audience. Join our referral programme and help us reach those people that would be most interested in the Payments, Payments, Payments newsletter. Join our referral programme Use the link above to generate a unique code and use the sharing buttons to share […]

Payments Landscape

Payments Tracker

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 Direct Credit In the 12 […]

Cash

Did you visit an ATM last week?

Weekly ATM value and volume figures 20 December 2020. Key observations for week ending 20 December: Last week ATM transactions increased by 1.1 million (when compared to the previous week). Last week’s ATM transactions were 19.6 million less than the equivalent week in 2019. Weekly ATM use has reduced by 38% (compared to equivalent week in 2019). Weekly LINK ATM […]