After the peak of APP Fraud losses in 2021, CoP contributed to a 17% reduction in 2022, despite over 100,000 cases amounting to £482 million. However, implementing CoP takes a
Do you want to swallow the blue pill or the red pill? The crypto fraternity weighed in favor of the red pill and here we have the Bitcoin ETF live
Artificial intelligence’s impact on the payments landscape is nothing short of transformative – from personalised customer experiences and seamless cross-border transactions to enhanced security and prompt fraud detection, AI-driven innovations
Napoleon understood the importance of resilient supply chains as his Grande Armée spread across Europe. Today, payment firms are being told to improve the resilience of their operations by overseeing
Despite the advancement of financial technology and payments, large portions of SMEs still face difficulties when it comes to transacting across borders. As a result of this, there are more
The financial world is rapidly evolving, driven by changing consumer needs and technological advancements. The Buy Now, Pay Later (BNPL) sector is experiencing a remarkable rise in Europe and is
Banks and finserv companies have a significant task in 2024 when it comes to building and retaining consumer trust. This is concerning news because it’s easier than ever for customers to switch banking providers.
Traditional finance is at a crossroads with the new digital frontier, and the rapidly evolving landscape of digital assets demands innovative custodial solutions. For banks, payment service providers, financial institutions and others that are either considering or already piloting digital asset projects, it’s imperative to understand the importance of an underlying custody infrastructure.
Businesses using open banking report spending 150 hours less on operational tasks each year versus non-users1 Open banking users save on payment processing fees annually, versus businesses using other payment
There isn’t much Head of Partnerships Wiliam Boocock doesn’t know about Starling Business Services (SBS). He’s been involved since 2017 and has supported growth both in SBS and across Starling
In a landmark achievement, Tillo, the award-winning rewards and incentives platform and gift card API, is proud to announce its certification in Customer Service Excellence, a testament to its unwavering
Disability has the potential to impact anyone in society. It can be visible or hidden, temporary, or permanent, and can be influenced by a number of factors. More than one billion people around the world have some level of disability, equating to roughly 15% of the global population. At the same time, the world is ageing as people live longer, and the number of people aged 60 and over will double to 2.1 billion by 2050.
The founders of PAYSTRAX have decades of experience in the payments industry. In the past, they worked with internal software development teams who spent most of their time keeping up
The payments sector’s success and growth over the past decade can largely be attributed to firms’ ability to meet and exceed customer’s expectations. Unlike established banks, fintechs are largely free from the legacy tech stacks that slow down banks from modernising. So Payment Service Providers (PSPs) can anticipate customer needs and provide services that address their problems. However, as new PSPs continue to emerge, the landscape is becoming increasingly competitive. So PSPs have to meet changing customer expectations more quickly.
How regulatory reforms and increased capital can drive UK fintech expansion One of the first questions any fintech founder or investor asks is how it will be regulated. Regulation affects
The ongoing digitisation of payments can perpetuate a false narrative that traditional payment cards are becoming obsolete. The reality is that card payments are thriving globally, adapting to the new age of fintech and smartphones. While the landscape of financial transactions is ever-changing, the truth is that one size does not fit all – and different markets have different payment requirements.
Open banking unlocks customer data, driving competition and innovation while reshaping the financial landscape for a more inclusive future. Open banking, a revolutionary concept in the financial industry, has reshaped
In a decisive move to fortify the financial sector against the ever-evolving threat of authorised push payment (APP) scams, the recent policy statement PS23/4, issued in December 2023 by the
The 2024 Veriff Fraud Report is compiled after extensive analysis of our global customer data throughout 2023. This data shows the real story of what it’s like on the frontline
The Payments Association is proud to have worked alongside UK Finance, Digital Pound Foundation, TheCityUK, Innovate Finance and City of London Corporation, and supported by CryptoUK, CMS, Clifford Chance, Greengage,
London, UK, 23 January 2024 – Ozone API, the open banking API platform founded by the team that designed open banking in the UK, today announced that it has raised
2024 will herald much innovation in the payments world, with digital currencies and digital wallets firmly entering the mainstream and grabbing the lion’s share of headlines. However, UNITE Global – a new entrant currently flying somewhat under the radar – could enjoy one of the most impactful debuts for many years to shape the future of a critical payments marketplace.
As the digital landscape continues to evolve at an unprecedented pace, the payments industry finds itself standing at the intersection of innovation and transformation.
Last week, as I was scrolling through the Internet, I happened to stumble across a piece where the founder of Ethereum, Vitalik Buterin, has been reiterating the importance of L2s
The future depends on what you do today. In the realm of finance, this sentiment rings especially true as we stand on the cusp of a digital revolution with the advent
On 30 October 2023, HM Treasury (HMT) issued its long-awaited policy document on the regulation of fiat-backed stablecoins in the UK. Framed as “Phase 1” of the UK’s approach to cryptoasset regulation, HMT’s paper was quickly followed by discussion papers from the Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and Bank of England (BOE) on the future regulatory approach to such stablecoins.
Although there are a number of steps to go before the stablecoin regime comes into effect (with implementation anticipated in 2025), the 2023 papers give helpful insights into the direction of the new regime.
The year 2023 was significant for ESG in finance. As COP 28 brought the year to a close, The Payment Association’s ESG Working Group look ahead to key themes likely to dominate the payments ESG agenda in 2024.
The upcoming arrival of the Digital Operational Resilience Act (DORA) on 17 January 2025 will end the fragmentation of legal obligations for ICT processes and security. By then, financial entities
London, UK. 11th January 2024: Edenred Payment Solutions, an Edenred company and one of Europe’s market-leading payments service provider, has been selected by UK e-money provider, thinkmoney, to upgrade its card
Financial inclusion initiatives are transforming the global economic landscape by making financial services accessible to underserved populations. These efforts are about broadening access and empowering individuals to participate more fully
Software as a service (SaaS) has sparked a paradigm shift in the corporate domain in the past five years, revolutionising pivotal industries like finance, transactions, and insurance.
As 2023 draws to a close, it’s time for us to take a moment to reflect on the past year and celebrate the accomplishments of our team at Salt Edge.
Thames Technology, one of Europe’s leading card manufacturers, has experienced substantial business growth in recent months and is pleased to announce a strategic recruitment drive across various departments to support
LONDON, UK, December 18th, 2023 — Unlimit, the global fintech company, announced today Colin Neil as its new Global Chief Sales Officer. Mr Neil brings a wealth of big-brand experience
27% of UK SMEs are owed between £5,000 and £20,000 in unpaid invoices Over half (55%) of SMEs say that late payments have increased over the course of 2023 31%
Cellbunq, a leading platform provider for B2B and B2C onboarding, is announcing its latest feature to its compliance platform; a merchant onboarding system that can be completed in less than
Going back in time, during the Ethereum period, when we first embraced the smart-contract blockchains, all the operations that go into mining and validating a transaction, like data availability, consensus, execution
The financial sector has long been a bastion of stability and reliability. However, where technology evolves at a breakneck pace, the financial sector stands at a critical juncture. In light
The advent of instant payment systems, a reflection of our increasing reliance on digital immediacy, has unfortunately opened the gates to various forms of financial deceptions. Over 77% of all
Blockchains have created a narrative that they are an underlying technology that powers cryptocurrencies that challenge the traditional financial system. However, in reality, blockchain is way more than that, with a
Despite significant advancements in artificial intelligence and machine learning for profiling customers, a crucial issue remains among industry bodies: the lack of effective information sharing.
A lot has gone on in the payments sector in the last 12 months, but have you been paying attention? There’s only one way to find out, we’ve devised a quiz to test your mettle below.
Plenty has happened in the payments space over the past 12 months. Landmark legislation has been passed and new technologies such as artificial intelligence (AI) have integrated themselves further, irreversibly changing the way transactions will be made. As the year draws to a close, we take a look at other triumphs and challenges faced by the industry in the past 12 months.
The UK and EU payments sectors continued to draw increasing regulatory scrutiny throughout 2023. Indeed, the need to deliver compliance with new regimes, such as the consumer duty in the UK, required a great deal of firm’s attention and resources throughout the year.
In recent years, the UK has been keen on positioning itself as a global crypto asset hub, however it’s currently facing critical obstacles which are hindering its effort.
While there is efforts by the BRICS countries to reduce their dependency on the US dollar as the global reserve, experts cast doubt whether the process of de-dollarisation could actually be help ease payment friction.
Christien Ackroyd explains how the ethical grade concept works, covering best practices, benefits, and which banks are getting it right.
As the UK continues to try and place itself as a leader in the payments industry and fintech, maintaining a degree of pace, security and efficiency must remain a priority.
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