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.
Paying back IOUs to friends and family just got easier, following the launch today (29th April) of Paym, the new secure way to pay using just a mobile number across nine banks and building societies.
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.
© Finextra Research 2015