Nearly half of Brits have no intention of using the bank-backed Paym person-to-person mobile payments service, which launches tomorrow, according to a survey from Consumer Intelligence.
People who accidentally send a payment to the wrong account can expect consistent, standardised and swifter help from May 2014, following the publication of a Code of Best Practice by the Payments Council today.
The Payments Council published a six-month dashboard for the new Current Account Switch Service, covering the period from the start of October 2013 to the end of March 2014.
Person-to-person mobile payments service Paym will be rolled out by Britain's banks at the end of this month.
The person-to-person mobile payments service being prepped by Britain's banks for a launch later this year has been christened Paym.
Key members of London's financial community came together in London yesterday (Tuesday 4 February) to mark the 30th anniversary of CHAPS (the UK's high-value same-day payments system) and to highlight its continued key role in the UK's economic infrastructure.
The Payments Council today (16 January) published its first quarterly switching dashboard which shows that the new switching service has got off to an encouraging start since its launch on 16 September 2013.
CHAPS Clearing Company Limited, the UK payments system that processes and settles both systemically important and time-dependent payments, today (Friday 20th December), announced that it has received Letters of Intent from five major international banks to become Direct Participants.
The Payments Council is forecasting a bumper Christmas for retailers as it estimates that spending on cards, cash and cheques will reach £82.7bn in December, an increase of 1.2% from 2012 (£81.7bn).
As it approaches its 30th anniversary in February 2014, Chaps Clearing Company Ltd (also known as Chaps Co), the UK's same day high value payment system, is pleased to announce that Handelsbanken (Svenska Handelsbanken AB (Publ)) has become a shareholder and Direct Participant in Chaps.
© Finextra Research 2014