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July 10, 2025
On the web
UK Launches First Compliance Wallet
Banking Exchange
"The UK has introduced its first compliance wallet, designed to reduce the average number of property ID checks from 5.4 to just one through a single, reusable solution. Credas Technologies has launched a compliance wallet, a reusable solution that aims to streamline the homebuying process by removing repeat compliance checks and tackling growing fraud risks across regulated sectors. The wallet is built for use across all regulated sectors but will first launch in the property market, where repeat compliance checks have been identified as a persistent issue."
July 9, 2025
On the web
Mastercard, Visa’s Merchant Fees Breach Competition Law, UK Tribunal Rules
MSN
"Global payments processors Visa and Mastercard's default multilateral interchange fees which are charged to retailers infringe competition law, a London tribunal ruled on Friday in the latest round of the long-running legal saga. London's Competition Appeal Tribunal unanimously ruled that Visa and Mastercard's multilateral interchange fees breach European competition law, in a ruling in linked lawsuits brought by hundreds of merchants."
June 27, 2025
On the web
Mastercard, Visa's Merchant Fees Breach Competition Law, UK Tribunal Rules
Reuters
"Global payments processors Visa and Mastercard's default multilateral interchange fees which are charged to retailers infringe competition law, a London tribunal ruled on Friday in the latest round of the long-running legal saga. London's Competition Appeal Tribunal unanimously ruled that Visa and Mastercard's multilateral interchange fees breach European competition law, in a ruling in linked lawsuits brought by hundreds of merchants."
June 20, 2025
On the web
FTC Fines Payment-Processor Paddle $5 Million for Alleged Support of Schemes
Insurance Journal
"Paddle.com Market, a U.K.-based payment processor, and its subsidiary, Paddle.com, Inc., will pay $5 million and be permanently banned from processing payments for tech-support telemarketers, said the Federal Trade Commission this week. The FTC alleged that Paddle abused the U.S. credit-card system and enabled deceptive foreign operators to access it, costing consumers millions of dollars."
May 29, 2025
On the web
UK Fraud Losses Hold Steady at £1.17bn as Experts Warn of Evolving Threats
IBS Intelligence
"Fraud continues to pose a grave threat to the UK’s financial stability and consumer safety, with losses from unauthorised and authorised fraud reaching a staggering £1.17 billion in 2024, according to UK Finance’s annual fraud report. While the figure remains broadly unchanged from 2023, the unrelenting scale of the threat has drawn calls for urgent cross-sector action."
May 19, 2025
On the web
New Rules to End Buy-Now, Pay-Later Wild-West, Protect Millions of Shoppers and Drive Growth [UK]
GOV UK
"From next year, BNPL firms will need to follow consistent standards — so shoppers will know exactly what they’re signing up to when they opt to break up payments, whether they can afford it, and how to get help when things go wrong. That means upfront checks to make sure people can repay what they borrow, fairer and faster access to refunds, and the right to complain to the Financial Ombudsman — bringing BNPL in line with other credit products."
May 8, 2025
On the web
UK Seeks Feedback On Banning Consumers From Borrowing To Buy Crypto
Silicon UK
"The United Kingdom continues to plot out its regulation in the years ahead, governing cryptocurrencies and digital assets. The Financial Conduct Authority announced the issuing of a discussion paper, seeking feedback on rules to ban investors from using borrowed funds, such as credit card balances, to invest in cryptocurrency."
May 2, 2025
On the web
FCA Does Not Want Britons to Buy Crypto on Credit
Finance Magnates
"The UK’s Financial Conduct Authority (FCA) is exploring restrictions on UK residents purchasing cryptocurrencies on credit, and is now seeking public feedback on this and other proposed regulatory measures. However, the British agency would exempt authorised stablecoin purchases from these credit restrictions."
April 23, 2025
On the web
Haboo Money Teams up With Griffin to Launch ‘Save-As-You-Repay’ Wallet
Open Banking Expo
"UK fintech haboo money has partnered with bank for fintechs Griffin to offer a “save-as-you-repay” wallet designed to give borrowers more control and flexibility over loan repayments, through the use of variable recurring payments (VRP) and behavioural “nudges”. The new save-as-you-pay wallet from haboo provides borrowers with flexible repayment options, by replacing direct debits with VRP, and aims to encourage responsible overpayments to help individuals pay down debt faster."
April 22, 2025
On the web
Curve Pay Launches on Android - The Wallet with Total Bank Coverage, Superior Spending Insights and Zero Foreign Exchange Fees
The Wise Marketer
"Curve Pay brings Android users unmatched spending visibility, comprehensive bank and card coverage, zero foreign transaction fees on all linked cards, and advanced money management tools, setting a new standard for convenience, security, and savings in mobile wallets."
April 15, 2025
On the web
Banked Acquires UK’s Vibepay To Accelerate Global Adoption of Pay by Bank
Disruption Banking
"Global Pay by Bank platform, Banked announced the acquisition of UK-based app VibePay, to accelerate global Pay by Bank adoption through innovative consumer and merchant incentives. Like Cash App and Venmo in the US, the company has gained a loyal Gen Z and Millennial following, pioneering ‘Conversational Commerce’ through an innovative blend of personalised offers, peer-to-peer payments and financial insights."
April 14, 2025
On the web
Digital Pound Experiment Report: Offline Payments
Bank of England
"This project aimed to assess whether it is technically feasible to implement an offline payment functionality for a digital pound. We worked with Thales, Secretarium, IDEMIA Secure Transactions, Quali-Sign and Consult Hyperion to assess different offline payment solutions. An ‘offline payment’ is a payment that occurs while neither payer nor payee has access to the central bank digital currency (CBDC) network, usually due to the lack of an internet connection."
April 3, 2025
On the web
A Look to the Future: A Deep Dive into Account-to-Account Payments [UK]
EPAM
"The world of payments is undergoing a significant transformation, with a strong emphasis on offering account-to-account (A2A) payments as an alternative to traditional card payments...The UK government recognizes the immense potential of A2A payments and has outlined a vision to make them a ubiquitous payment method."
March 26, 2025
On the web
UK Banks Suffer 803 Hours of It Outages—Blame Ageing Legacy Systems
IBS Intelligence
"The frequent IT outages across UK banks, including the recent high-profile disruptions at Barclays, stem from a mix of ageing legacy systems, rising cyber threats, and the increasing complexity of digital banking infrastructure. Many financial institutions still rely on outdated core banking technology, making them vulnerable to crashes and prolonged service disruptions."
March 12, 2025
On the web
UK Payments Regulator to Be Abolished and Absorbed by Financial Watchdog
MSN
"Britain's payments regulator will be abolished and its remit absorbed by another financial regulator, the government said as it aims to cut red tape in favour of growth. The Payment Systems Regulator (PSR), which oversees systems including MasterCard and bank transfers, tackles problems such as fraud, excessive fees and lack of competition among banks and payment providers. The payments watchdog will be wrapped within the FCA, the government said, providing a single point of contact for businesses and ultimately reducing expenses.."
March 11, 2025
On the web
British Weather Drives Surges in Online Spending
A1 Retail Magazine
"Online retailers enjoyed a 137 percent surge in outdoor-related sales this weekend (8th and 9th March 2025), as temperatures soared, compared to the average weekend so far this year according to Checkout.com. This was even up 35 percent from last weekend’s payday weekend, which would normally see the highest peaks in overall spending."
On the wires
Revealed: The Top 5 Late Payment Excuses Costing UK Businesses Millions
GlobeNewswire News Room
"Late payments remain a major challenge for UK businesses, with billions of pounds tied up in overdue invoices. According to the Federation of Small Businesses, 50,000 small businesses collapse every year due to late payment. According to new data gathered by the UK’s leading Business debt collection agency specialists Federal Management, businesses across the country are facing an increasing number of excuses from clients who fail to pay on time."
February 18, 2025
On the wires
Emburse Brings Apple Pay to Customers in the UK
Business Wire
"Emburse, whose leading travel and expense solutions power forward-thinking organizations, today brings Apple Pay to UK customers. An Emburse Card is a corporate card that comes with built-in controls providing greater visibility over spending than traditional corporate cards."
January 17, 2025
On the web
UK’s Payment Systems Regulator Commits to Work on VRPS in Strategy Review
Open Banking Expo
"The UK’s Payment Systems Regulator (PSR) has committed to working closely with the Financial Conduct Authority (FCA) to take forward work on the overall framework for commercial Open Banking payments, focusing on the initial phase of Variable Recurring Payments (VRPs), over the next two years."
January 13, 2025
On the web
UK Open Banking Turns Seven – Industry Reaction
Electronic Payments International
"There are now over 11.7 million active users of open banking-enabled products in the UK and 2025 is set to be a pivotal year for the industry, with the passing of key legislation."
December 13, 2024
On the web
UK Payments Regulator Consults on Cross-Border Card Fees Cap
Reuters
"Britain's payments regulator said on Friday it would consult on whether to introduce a cap on cross-border card fees charged when European consumers buy online from UK businesses, after concluding they had been increased to 'unduly high levels'."
December 4, 2024
On the web
Nationwide Incorporates Experian’s New Digital Income Verification Service
Open Banking Expo
"The UK’s largest building society Nationwide has become the first major lender to incorporate Experian’s income and employment verification service ‘Work Report’ into the mortgage application process to speed up checks."
November 27, 2024
On the wires
Money Back in Minutes: Worldpay Brings Faster Refunds to the UK
Worldpay
"Worldpay has launched a first-of-its-kind service that delivers near instant refunds, depending on the receiving financial institution. This helps to close the gap between consumer expectations and merchant capabilities."
November 22, 2024
On the web
Artificial Intelligence in UK Financial Services - 2024
Bank of England
"The Bank of England and Financial Conduct Authority conducted a third survey of artificial intelligence and machine learning in UK financial services."
November 20, 2024
On the web
Papa Johns UK Rolls Out Network Tokens for Payments
Retail Systems
"Papa Johns UK has seen a six per hike in card transaction acceptance rates after rolling out a new payment system that uses network tokens. The company, which has teamed up with Checkout.com, has turned card credentials into encrypted tokens that are used for payment processing with the aim of making each individual transaction more secure."
November 19, 2024
On the web
The Role of Retail in UK’s Payments Strategy
Retail Insight Network
"The National Payments Vision stresses that retail businesses must keep pace with new technologies and consumer behaviours, ensuring trust and operational efficiency in transactions."
November 6, 2024
On the web
UK Payment Scams Targeted With API-Based Service
Mobile World Live
"Industry associations the GSMA and UK Finance outlined the ability of an API-delivered platform to battle authorised push payment fraud in the UK, a service developed in collaboration with local mobile operators and banks."
November 4, 2024
On the web
Anti-fraud Tool Confirmation of Payee Expanded to Hundreds of More Firms [UK]
PSR
"The Payment Systems Regulator (PSR), marks another significant milestone in its fight to tackle fraud, as hundreds of additional financial firms adopt the name-checking service, Confirmation of Payee (CoP). This expanded rollout means that over 99% of all transactions made through Faster Payments and CHAPS are now safeguarded by this vital anti-fraud measure, offering consumers an important way to protect themselves from fraud."
October 28, 2024
On the wires
Bank of England to Press On With Digital Currency in Case Banks Fall Short, Bailey Says
Reuters
"The Bank of England is reluctantly pressing on with work to create a form of digital money accessible to the general public, as commercial banks risk failing to keep up with less-regulated tech firms, Governor Andrew Bailey said."
October 22, 2024
On the web
MeaWallet Partners with Toqio to Expand its Digital Card Capabilities
Meawallet
"MeaWallet a digital payments enabler specialising in card tokenization announced its partnership with Toqio, a technology platform for B2B embedded finance for businesses, to enhance its digital card capabilities for corporate customers in the UK and Spain."
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