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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June 3, 2024

On the web

May 22, 2024

Top Post

May 21, 2024

On the web

Market Review of Card Scheme and Processing Fees Interim Report [UK]

Payment Systems Regulator

"Cards are the most popular way for consumers to pay for goods and services in the UK, so it is crucial that the market works well. Every time people use a Mastercard or Visa debit or credit card for transactions with UK businesses, UK businesses pay scheme and processing fees, some of which are mandatory or core and some of which are optional."

May 8, 2024

On the web

April 24, 2024

On the web

March 26, 2024

On the web

March 25, 2024

On the web

March 20, 2024

On the wires

March 12, 2024

On the wires

British Banks Given More Time to Check Payments for Scams

Reuters

"British banks will be allowed to hold up payment transfers for an extra three days if they have grounds to suspect a customer is being scammed, the government said on Tuesday. Regulators are cracking down on 'authorised push payment' fraud, when people are tricked into transferring money."

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."

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