One year on after introducing new Tiering Criteria, Chaps (which processes real-time, high value, guaranteed sterling payments), has reviewed how the changes have reduced risks within this key payment system, which is critical to the economic infrastructure.
The UK government is preparing to bring in a utility-style regulator for retail payment systems, putting an end to the current practice of industry self-policing.
The Payments Council today (11 March 2013) publishes two reports Access to cash: qualitative research and Access to cash: quantitative research which review consumer and business satisfaction with access to cash. This research forms the first phase of a Payments Council project. The next step will be to identify whether any improvements can be made.
The debit card may have usurped cash in the UK over the last decade but it could be supplanted itself within years by the mobile phone, predicts the Payments Council.
Coronation Street's Gail McIntyre has only herself to blame for the imminent loss of £40,000 in an online banking scam, says the UK Payments Council
The UK banking sector is gearing up for the introduction of an industry-wide mobile payments service next spring, with eight major institutions committed to the launch.
The Payments Council today publishes the findings of its research, exploring the payments that UK businesses make and receive. The findings reveal that, small businesses are lagging some way behind larger businesses, but seem to be more savvy than individuals in terms of adoption of modern payments technology.
Elderly and disabled Brits face significant barriers in accessing and using payment systems, often forced to resort to workarounds such as sharing cards and PINs, according to research from the Payments Council.
Forget mobile payments, the next wave of innovation to strike the payments industry could see a simple handshake emerge as a novel form factor in the transfer of cash, according to a new crystal ball-gazing report from the UK Payments Council.
Following last year's bungled and abandoned attempt to scrap cheques, the bank-run UK Payments Council is set to be stripped of its powers by the government.
© Finextra Research 2014