Pay.UK officially brings payment brands under one roof
Bacs, Faster Payments, and Cheque and Credit Clearing are now part of Pay.UK.
faster payments
Form3 helps LHV Bank connect to UK Faster Payments
LHV will join the scheme as a directly connected participant (member) in 2019.
Faster Payments issue affects UK banks
Problems for Halifax, Lloyds, Bank of Scotland and Monzo.
UK Faster Payments suffers seriously slow service
Issues started Sunday 8 July and backlog remains.
Top fintech stories this week – 4 May 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Bacs and Faster Payments transferred to New Payment System Operator
Bacs and Faster Payments process a combined £6.3 trillion worth of payments annually.
Top fintech stories this week – 27 April 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Draft of US faster payments governance framework unveiled
Stakeholders encouraged to comment over next 60 days.
TransferWise joins UK’s Faster Payments system
First non-bank payment service provider to directly access system.
Payment Trends: BAI Beacon 2017 Preview
Cut through the noise and examine the payment trends most likely to affect your bottom line.
U.K. to Get New Payment Systems Operator by Year’s End
Payment Systems Regulator (PSR) and Bank of England have revealed that the U.K. will be getting the New Payment Systems Operator by the end of 2017, which the PSR says will be an important step in streamlining the U.K.’s payment systems and fostering competition and innovation.
Oracle Unveils New Global Payments Solution for Banks
Oracle has unveiled its brand new development, Oracle Banking Payments. Built from the ground up, the service uses the ISO 20022 messaging standard and supports global and local payment standards, including SEPA, Swift 2017, Fedwire, U.S. ACH and Swift’s gpi.
Faster Payments Task Force Sets Ambitious Goal for 2020
The Fed’s Faster Payments Task Force isn’t kidding when it says it wants every U.S. consumer and business to be able to accept faster payments by 2020. It’s an ambitious plan, no doubt. But with the release of its final report on July 21, detailing 16 proposed faster payment solutions and outlining possible approaches, the task force is making a serious call to action.
U.K. Regulator Calls for More Competition in Payments
The U.K. needs more competition in its retail payments infrastructure. That’s the conclusion of a new report from the country’s Payment Systems Regulator.
Starling Bank Unveils Real-Time Mobile Payments
U.K. challenger bank Starling is staying busy with the launch of its real-time mobile offering, Starling Payment Services. The new division of the bank will offer sponsorship access to the U.K.’s major payment schemes, enabling other banks, payment service providers and fintech companies to use real-time payments from the summer.
Mastercard Wins U.K. Approval for VocaLink Buy
The U.K.’s Competition and Markets Authority gave its blessing April 11, enabling Mastercard to complete its acquisition of 92.4 percent of VocaLink Holdings for $920 million. The deal, which is expected to close within weeks, gives Mastercard control of a large portion of the U.K. transaction processing market.
European Online Transaction Rule Revised after Payments Industry Complaints
After absorbing hundreds of complaints from the payments industry, the European Banking Authority will relax its pending customer authentication rules for online transactions. But given the rise in popularity of online shopping, the new threshold of 30 euros before two-factor authentication is required may not be enough to assuage industry concerns.
Viewpoint: What Openness Means for Payments, Fintech Future
With regulators opening up the payments infrastructure and consumers and business clients demanding á la carte but interoperable financial services from a variety of players, the industry and its would-be disruptors must adapt.
Trend Watch 2017: Payments Year in Review
Paybefore’s first-ever payments year-in-review report, sponsored by The Bancorp, is available now. Offering an in-depth look at key trends and the Top 10 payments stories from 2016 that will continue to shape the industry in 2017 and beyond, this must-have resource examines everything influencing the industry from the CFPB and Uber to Brexit and Trump and much more.
Starling Bank First Digital Challenger to Join Faster Payments
U.K.-based Starling Bank has become the “first of the digital-only challengers” to join Faster Payments this week. The 13th direct participant of the Faster Payments Scheme, Starling says its customers will be able to see where their money is flowing and when in real-time, 24/7.
