A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.

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February 27, 2024

On the wires

February 7, 2024

On the web

Consumer Card Spending Grew Just 3.1 per Cent in January as Brits Opted for Nights in and Home-Cooked Meals, Yet Confidence in Personal Finances Reached Two-Year High

Barclays

"Consumer card spending grew 3.1 per cent year-on-year in January – less than the latest CPIH* inflation rate of 4.2 per cent, yet higher than December’s growth of 2.3 per cent. Retail, hospitality and leisure spending slowed as Brits stayed at home to shelter from the cold weather and save money after a busy festive period."

February 1, 2024

On the web

December 19, 2023

On the web

December 13, 2023

Top Post

December 7, 2023

On the wires

December 5, 2023

On the web

November 16, 2023

Top Post

November 15, 2023

On the web

November 8, 2023

On the web

On the wires

November 1, 2023

On the wires

October 30, 2023

On the web

October 19, 2023

On the web

October 6, 2023

On the web

UK Payments Markets 2023

UK Finance

"An analysis of recent and emerging developments for all forms of payments. UK Payment Markets 2023 provides detailed commentary on trends in payment markets in 2023 and forecasts up to 2032."

September 28, 2023

On the web

September 20, 2023

On the web

How Much Will Payment Providers Have to Refund APP Fraud Victims [UK]?

The Banker

"To address the impact of authorised push payment (APP) fraud, the UK is introducing a new reimbursement requirement on payment service providers (PSPs)....It is proposed that PSPs will only be required to reimburse customers who are victims of APP fraud up to the maximum level of reimbursement (potentially subject to a claim excess), and if the customer met a standard of care when executing APPs."

September 15, 2023

On the web

Number of UK Contactless Payments Rose by 30% Last Year

Computer Weekly

"Some 17 billion contactless payments were made in the UK last year, a 30% increase on the previous year, with 87% of people using the technology at least once a month, according to the latest figures from banking industry body UK Finance. The average value of contactless payments also increased..."

September 14, 2023

On the wires

Britain Sees 14% Annual Rise in Missed Direct Debit Payments

Reuters

"Britain reported an annual rise of 14% in missed bill payments last month for their second highest rate on record, figures on Thursday showed, pointing to growing financial strain on households. The percentage of failed direct debits - mostly used for utility bills or mortgage and credit card repayments - rose from 0.82% in July to 0.83% in August, the second highest rate in monthly records, which started in January 2019."

September 13, 2023

On the wires

Bank of England Official Says Public Need Reassurance on Digital Pound and Privacy

Reuters

"A "national conversation" is needed to assuage public fears that a digital version of the pound would allow the government to spy on them, Bank of England deputy governor designate Sarah Breeden said on Tuesday. The BoE and Britain's finance ministry have been consulting on whether and how to introduce a digital pound, probably in the second half of this decade."

September 1, 2023

On the web

This New UK Rule Allows Crypto Exchanges to Seize Customer Funds

BeInCrypto

"Starting September 1, 2023, cryptocurrency users in the United Kingdom enter a new era of regulatory scrutiny. The Financial Conduct Authority (FCA) has implemented its “Travel Rule,” a regulation that equips crypto exchanges with the authority to freeze or seize customer funds for failing to sufficiently verify their source."

August 18, 2023

On the wires

August 14, 2023

On the web

Amazon Changes Payout Period

Ecommerce News

"Ecommerce giant Amazon has announced that it will make changes to its payout period. Sellers in the United Kingdom and Europe will have to wait until a week after the delivery of an item to receive their proceeds. The change will come into effect in phases in the upcoming month, until September 6th."

July 17, 2023

On the web

Bottomline Launches Fraud Prevention for Payers

EIN News

"Bottomline, a leading provider of financial technology that helps make business payments simple, smart and secure, today announced the launch of Pay.UK’s Payer Name Verification service, offered through Bottomline Payments Services Limited, which will provide businesses with greater assurance that payments are being collected from the named account holder when processing Direct Debits."

July 12, 2023

On the wires

July 6, 2023

On the web

June 29, 2023

Top Post

On the web

UK Crypto, Stablecoin Rules Receive Royal Assent, Passing Into Law

Coindesk

"A U.K. bill giving regulators the power to supervise crypto and stablecoins was approved by King Charles Thursday, marking the last formal stage that makes the bill law. Royal assent, a purely procedural step following agreement from lawmakers, makes the Financial Services and Markets Bill an Act, and includes measures to bring crypto and stablecoins into the scope of regulation. The bill was last week approved by the upper chamber of Parliament."

June 28, 2023

On the web

Pay.UK Partners with Visa, Synectics Solutions and Featurespace on Pioneering Fraud Detection and Prevention Initiative

Wearepay

"Pay.UK today announces a major new collaboration within the UK payments industry that will help fight fraud by bringing together the combined power of data from multiple high street banks and payment service providers for the first time. Confirmed today in a pilot form, the initiative aims to create a new overlay service for UK banks and building societies that will safely and securely analyse money flows and use predictive intelligence to proactively detect fraud and help prevent crime before it occurs."

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