The Payments Association’s consumer behaviour survey uncovers shifting payment preferences in the UK, with digital methods on the rise while cash remains vital for certain demographics.
Fintechs are rapidly reshaping the merchant services sector, challenging traditional banks to innovate or face declining market dominance.
Explore how decentralised finance is transforming the payment industry by offering transparency, efficiency, and access, amid regulatory challenges.
Choosing between building and buying systems is key as financial institutions face escalating financial crime challenges.
New fraud data highlights growing threats and the need for stronger defences ahead of regulatory changes.
Learn how payments firms are tackling the challenges of the Consumer Duty, from compliance gaps to improving customer outcomes and governance.
The FCA’s new safeguarding reforms strengthen consumer protection in payments and e-money sectors. This article outlines key changes and steps firms must take to comply.
The PSR’s new refund rules strengthen fraud protection, but concerns remain over the reduced compensation cap and evolving scam tactics.
New rules mandate automatic reimbursement for APP fraud victims, raising concerns about industry costs and fraud exploitation.
The PSR has lowered the APP fraud reimbursement cap to £85,000, raising concerns over fraud prevention
A surge in current account switching is being driven by cash incentives, economic pressures, and the rise of digital banking.
Flawed assumptions in CBDC designs around accounts, wallet control, and privacy call for a more innovative, privacy-focused approach.
Merchants face new challenges as payment innovations like open banking and tokenisation reshape the industry.
The new Reimbursement Claims Management System (RCMS) aims to simplify APP fraud claim processing, enhance PSP cooperation, and ensure adherence to updated compliance standards
Central bank digital currencies (CBDCs) could transform cross-border payments by reducing costs, improving efficiency, and enhancing transparency.
The FCA’s latest guidance proposes a risk-based approach allowing payment service providers to delay outgoing payments to combat APP fraud, balancing fraud prevention with consumer protection.
The PAY360 State of the Industry 2024 survey reveals key trends, challenges, and opportunities in the payments sector, emphasising the need for technological investment, enhanced security, and regulatory adaptation.
Regulatory changes in BNPL, cVRPs, and digital wallets aim to boost e-commerce innovation and competition while safeguarding consumer protection and market stability.
The Bank of England’s exploration of a digital pound and its integration with existing payment systems could modernise the UK’s financial landscape, enhancing efficiency, security, and inclusivity.
AI-driven solutions are transforming dispute management in the payments industry, enhancing efficiency, reducing costs, and improving customer satisfaction in an increasingly digital landscape.
A deep dive into the Financial Crime 360 survey, highlighting key challenges, prevalent fraud types, and strategic responses across various financial sectors
CEOs discuss top challenges and priorities in a Payments Lab roundtable, focusing on technology, fraud prevention, and regulatory compliance.
The financial struggles of UK adults highlight the vital role and challenges of community finance institutions in promoting financial inclusion.
Enhancing the FCA’s complaints reporting process aims to swiftly identify consumer harm, improve regulatory compliance, and streamline operations for financial firms.
Firms must navigate complex payment service regulations and the often-overlooked EBA Guidelines on Remuneration Policies to ensure compliance and foster fair customer outcomes.
The payment operations sector is navigating significant challenges due to capped interchange fees, driving a need for digital transformation, cost reduction, and innovative revenue models to maintain profitability.
Banks de-bank payment providers, disrupting cross-border transactions and financial inclusion.
The PAY360 registrant survey highlights key trends, challenges, and opportunities in the payments industry, focusing on AI, open banking, and real-time payments
Key findings from Cifas highlights the rising threat of identity fraud and the need for advanced, collaborative solutions.
The new APP fraud reimbursement policy mandates up to £415,000 per claim from October 2024, raising industry concerns over its implementation and impact on smaller fintech firms.
Payment businesses must leverage AI technologies to combat increasingly sophisticated fraud networks and protect digital transactions.
The Bank of England is modernising its RTGS system to boost resilience, innovation, and cross-border payment efficiency.
Exploring the shift to digital payments, the role of CBDCs, and the strategic implications for central banks.
The FCA’s controversial ‘name-and-shame’ policy has sparked significant industry backlash, raising concerns over market stability and reputational damage.
A survey from nearly 6,000 PAY360 pre-registrants reveal the strategic outlook, challenges, and opportunities identified by leaders in the payments industry.
The FCA’s final quarterly authorisations metrics for 2023-2024 reveal high efficiency and effectiveness in meeting statutory targets, though some areas require better application quality.
The Payment Systems Regulator (PSR) highlights the need for improved governance and collaboration to drive innovation and address regulatory challenges in the UK’s payments industry
At PAY360, video interviews with industry leaders highlighted the evolution of payment technologies, ESG integration, and digital accessibility.
Discover how programmable money could revolutionise finance with automation and efficiency, while exploring the ethical dilemmas it poses around privacy and potential misuse
On 25 April 2024, the FCA proposed significant updates to its Financial Crime Guide, aiming to enhance clarity and compliance for financial and cryptoasset firms.
Digital wallets are rapidly evolving, increasingly centralising essential personal functionalities like payments, identity verification, and data control, highlighting both immense potential and significant risks.
The PAY360 survey reveals critical insights on AI, real-time payments, and regulatory challenges, guiding stakeholders in adapting to evolving industry demands.
The 2024 assessment reveals evolving financial crime trends, including AI fraud and social media exploitation, providing crucial insights for payment firms to fortify consumer trust and operational security.
The UK Financial Conduct Authority issued a supervisory notice to EPayPro UK Limited, stressing the need for fairness and transparency in fee introductions, following EPayPro’s non-compliant rollout of a new compliance fee
A look inside the innovative work of the ESG working group, as it creates the first greenhouse gas emissions standard designed specifically for the payments industry
Initial assessments of the FCA’s Consumer Duty show that while financial firms have made positive strides in improving practices for consumer outcomes, further improvements and deeper integrations are necessary.
Conversations around a digital pound are growing louder as the weeks roll by. With use cases popping up around the globe, is it time Britain followed suit? In a similar fashion to the way coins largely made way for banknotes, digital currency is the next natural progression in the evolution of money, whether consumers like the idea of it or not.
AI has been a hot topic in the financial services sector for some time and the topic keeps gathering momentum. It is clear, AI has many potential use cases, such as: helping firms scale up their business; making better informed strategic business decisions; and supporting the efficient and effective delivery of regulatory compliance to name just a few potential use cases.
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