More than one million people have registered with their bank or building society for Paym, the UK bank-backed mobile number payment service that was launched in late April.
The UK Payments Council's chief executive, Adrian Kamellard, is quitting the bank-run organisation as it prepares to "refocus" ahead of the introduction of a new payments regulator.
The British Bankers' Association (BBA) is investigating a merger with the Payments Council and the UK Card Association, according to Sky News.
Faster Payments, the UK's immediate internet, phone and mobile banking payment service, has appointed Tanya Castell as the scheme's third Independent Director, as part of a range of improvements that further strengthen governance.
The Payments Council has today announced that three new members have joined, with immediate effect. Investec, Metro Bank and TSB have joined the Payments Council as full members, bringing membership to an all-time high of 36, with a further 27 associate members.
Around 593,000 Brits switched their bank account provider in the first six months of 2014, a 16% year-on-year increase, suggesting many are taking advantage of a new system designed to make the process quicker and easier.
The Payments Council today (15 July 2014) announces the appointment of three new independent directors to its Board, with immediate effect.
Adrian Kamellard, Chief Executive, Payments Council talks about how collaboration can aid innovation and the current take up of Paym.
The UK will get a new payments regulator next year, while the industry is busy working on its own 'roadmap'. Finextra spoke to key players from both sides about how they will work with each other.
Cash usage may be on the slide but notes and coins are still the UK's most commonly used buying tool, accounting for more than half of all payments last year, according to new figures.
© Finextra Research 2015