H1 review: The drive to be better, faster and cheaper
With earnings trends and guidance discussed by the biggest payment firms globally during half year earnings, Jonathan Tyce analyses what this means for the industry and the outlook into 2024.
With earnings trends and guidance discussed by the biggest payment firms globally during half year earnings, Jonathan Tyce analyses what this means for the industry and the outlook into 2024.
Chargebacks are a pain point for merchants which can sap revenue, cause reputational damage and in extreme cases lead to the loss of processing privilege. Yet their existence underpins consumers’ confidence in using their cards, providing recourse against fraud and unscrupulous sellers.
With uncertainty over the future of regulating BNPL products, Payments Review examined the current status, the impact of any legislation and what protection three of the UK’s largest providers have in place.
With the recent release of the Bank of England’s consultation paper on its roadmap for real-time gross settlement service beyond 2024, Payments Review examines the potential new features in store and the challenges in implementing them.
It will make millions of us redundant. It will turn whole industries upside down. It might even lead to the obliteration of humanity, and its replacement with something smarter and more civilised.
After an embarrassing scandal which saw Coutts CEO Peter Flavel and NatWest boss Alison Rose both leave their positions over the closure of Nigel Farage’s bank account, the UK banking sector may now be forced to react.
While inflation remains a key factor behind consumer spending, the main risk to payment companies is no longer volumes, but margin, and this is set to come under more pressure in the coming months.
Global M&A in the payments sector is improving after the 2021 slump, according to Jonathan Tyce, director of research and investment at AlphaOneSolutions and ex-Bloomberg intelligence senior financial analyst. Apple, JPMorgan, PayPal and other big players are out looking for their next venture.
Senior executives at payment firms told The Payments Association that the lack of clear regulatory guidance on open finance means they are struggling to balance the risk of uncertainty with the potential for innovation.
The Joint Regulatory Oversight Committee’s (JROC)’s open banking recommendations have the potential to revolutionise payments, but big investments will be necessary into digital transformation, legacy platform modernisation and cloud migration that is future-proof.
Representatives from the FCA shared the next steps in regulating crypto assets, secondary legislation and what help it is seeking from industry in a closed-door event with The Payments Association’s members.
Key industry stakeholders discuss the challenges, opportunities, and future of digital assets in the UK, at an event hosted by Ripple and The Payments Association.
Stripe and Klarna are among the first in payments to implement the use of ChatGPT in their products and services.
Transferring data from legacy systems is one of the biggest challenges payment firms are facing as part of the transition to ISO 20022. Companies need to manage the risk of data truncation carefully or face asking customers for their data again.
Tyler Pathe speaks to Crown Agents Bank on why the industry should integrate ESG into top-level decision-making and businesses that don’t will find the price is getting higher.
Anjana Haines speaks to HSBC’s UK CEO Ian Stuart on the concerns around the SVB acquisitions and what’s next for the banking giant.
Chargebacks911’s Monica Eaton examines five ways how businesses can utilise bots and new technology to drive sales online.
With innovation in B2C payments growing at much faster rate, Intellias’s Olaf Baunack debunks the myths associated with B2B payments.
Sean Forward at payabl. explores how the industry could see a rise in M&A activity and a consolidation of businesses and services.
With more and more young people using BNPL as a payment option, Monica Eaton of Chargebacks 911 explores the benefits and risks of using this type of lending to make purchases.
AutoRek’s Nick Botha discusses how the FCA is taking payments safeguarding very seriously and firms should be able to demonstrate robust governance and control frameworks to avoid unwanted consequence.
Artificial intelligence (AI) has already had a transformative affect on the payments industry, particularly in bolstering antifraud efforts. Next in bosses’ sights are initiatives enhancing their customers’ experience.
How the sector can empower consumers to choose eco-friendly payment options
It started with Silicon Valley Bank (SVB), crossed the Atlantic for the final downfall of Credit Suisse, and then switched back to California with the demise of Federal Republic.
Embedded finance is changing the face of the fintech and payments industries, with transactions projected to exceed US$7 trillion by 2026, but the real winners will be small businesses.
With over 20 years in the payments sector, Jonny Griffith, head of partnerships at BVNK, speaks to Jyoti Rambhai about his experience and the challenges facing the industry.
Other UK banks also reporting higher than expected pre-tax profits for Q1 2023
Financial institutions must collaborate and see the bigger picture to prevent fraudsters taking advantage of the fragmented payments sector.
Charles Radclyffe explores why technology might not be the universal force for good it has always assumed to be and why the sector should be thinking about technology governance to mitigate and manage potential harms.
With the rapid pace of innovation in the cryptoasset ecosystem, Ricardo Tordera discusses why regulation is now more paramount than ever and not just in the UK.
Open finance provider Salt Edge delves into the challenges facing the iGaming sector and how technology could help improve customer experience, increase security and bring in new revenue streams.
Chris Hemsley, managing director of the Payment Services Regulator (PSR), says the watchdog’s plan will be published by the end of June 2023.
The Payments Association’s Tony Craddock sits down with FIS to discuss how the threat of a recession is driving a need for quicker and easier access to cash for organisations.
As the cost-of-living crisis takes its toll, more vulnerable groups are at risk of not receiving the support and help they need to access financial services.
High levels of data and machine learning are key if financial institutions want to tackle the sophisticated nature of payment scams.
In a challenging economic climate, businesses must adapt and innovate to keep up with consumer needs and preferences.
Paymentology’s Martin Heraghty explores how the lending landscape is changing and what this means for consumers.
Peter Harmston and Robert Dean at KPMG UK explore how AI can be adopted to have the biggest benefits for both business and customers.
ARYZE’s Jack Nikogosian discusses how private sector stablecoin initiatives could be the key to stability and innovation in the current financial system.
The Payments Association’s Project Regulator has created a five-step checklist for firms that have fallen behind on preparing for the new rules.
Financial exclusion in the older population continues to rise and businesses must work together to find solutions that can help this group transition as payments become more digital.
The payments sector has the knowledge and expertise to make open finance a frictionless process that helps customers improve their financial health.
While those hit hardest by the cost-of-living crisis could benefit from using open banking, Stuart Wakefield questions whether the payments sector should be doing more to help.
Lucinity’s Francisco Mainez outlines how technology can help businesses prepare and comply with the new rules, which are due to come into force in July.
Roberto Rivero of Lerex Technology explores the value branded cards could have for businesses.
Alex Mifsud of Weavr.io examines how technological advancements mean that customers can experience seamless banking across financial institutions.
Nikulipe’s Frank Breuss discusses the correlation between a country’s GDP and its accessibility to digital financial services, which suggests fintechs are key to financial inclusion in emerging markets.
Several payment initiatives are happening at the same time. If regulators and the industry fail to collaborate now, banks and other businesses face a challenging situation, according to Paul Horlock, chief payments officer at Santander UK.
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