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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."
October 17, 2024
On the web
Broadridge Launches Instant Payments Service, Aligned with New EU Regulations
PR Newswire
"Broadridge Financial Solutions, Inc., a global Fintech leader, announced the launch of its highly resilient and scalable managed service for connectivity, message processing and workflow management for instant payments. The Broadridge service supports real-time money transfers, operating 24/7/365, with transaction processing times of under 10 seconds from payer to beneficiary."
New ‘Buy Now, Pay Later’ Rules to Protect UK Shoppers From 2026
The Guardian
"Shoppers who use “buy now, pay later” loans are to get new safeguards against unaffordable borrowing and credit card-style protection for their purchases, under rules outlined by the UK government. However, campaigners have questioned why the BNPL changes will not take effect until 2026, warning that consumers need to be “wary” in the meantime."
October 7, 2024
Top Post
Tensions Rise Between Banks and Tech Companies Over Online Fraud Liability in the UK
CNBC
"Tensions are escalating between banking and payment companies and social media firms in the U.K. over who should be liable for compensating people if they fall victim to fraud schemes online. Starting from Oct. 7, banks will be required to start compensating victims of so-called authorized push payment (APP) fraud a maximum £85,000 if those individuals affected were tricked or psychologically manipulated into handing over the cash."
On the web
Bank of England Sees Support for Extending Settlement Window
The Full FX
"With the world and payments and settlements rapidly evolving, the Bank of England says it has been “encouraged” by the level of support for extended RTGS settlement hours, noting the current hours are “unlikely to remain sufficient in an increasingly 24/7 and global world”."
October 3, 2024
On the web
Banks to Put Four-Day Hold on Suspicious Payments [BBC]
BBC
"Banks will have the power to pause payments for up to four days to give them more time to investigate fraud, the government has said. Currently, transfers must be processed or declined by the end of the next business day, but the new law will allow an extension of three more days."
September 25, 2024
Top Post
PSR Confirms Its Decision on App Scams Reimbursement
Payment Systems Regulator
"The PSR has confirmed the maximum reimbursement limit for victims of Authorised Push Payment (APP) scams starting from 7 October. Having given careful consideration to all the feedback and information received, the PSR board has decided that the maximum reimbursement limit for Faster Payments will be £85,000."
September 24, 2024
On the web
Mastercard Expands First-Of-Its-Kind AI Technology to Help Banks Protect More Consumers From Scams in Real Time
Mastercard
"Mastercard updated its Consumer Fraud Risk (CFR) solution to increase the ways it helps protect consumers from Real Time Payment scams. The AI-powered insights give more UK banks greater visibility into potentially fraudulent transactions so they can stop scams before they take place."
New American Express Research Shows UK SME Businesses Are Planning for Growth as Optimism Rises for the Third Consecutive Year
American Express
"Optimism among the UK’s small and medium-sized businesses has grown for a third consecutive year, according to new American Express research, with almost seven in 10 (69%) saying they are confident about the future of their company — rising from 67% in 2023 and 65% in 2022."
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