U.K.

Contactless Topples Chip & Pin as UK’s Top Payment Choice

Contactless payments have become the most popular form of card transaction in the UK for the first time, new figures have revealed. The latest figures say that contactless has now overtaken Chip & Pin payments, having already toppled cash transactions earlier this year. The company estimates that 38.

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TSB and HSBC Latest to Be Hit by Digital Banking Meltdown

The creaking IT infrastructure of the UK’s major banks is in the spotlight once again as TSB’s online banking services and HSBC’s mobile apps crumble in the latest of a string of glitches across the sector.

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Outage Fever Strikes UK Banks

A spate of online banking glitches has hit the UK’s leading high street banks, leading inevitably to discussions of resilience and operational risk in the industry.

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FCA Outlines Payments Innovation Outlook

The UK’s Financial Conduct Authority (FCA)’s head of payments has made clear the regulator’s approach to driving innovation within the payments sector.

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Cryptocurrency ‘Wild West’ Must Come to an End, UK Lawmakers Say

U.K. lawmakers have said they want to clamp down on the Wild West cryptocurrency market and prepare Britain as a legitimate home for the trading of digital currencies.

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Highlights From the 2018 UK Payments Market Report

2017 was an exciting year for the UK payments market. According to a recent study conducted by UK Finance, 38.8 billion payments were made in the UK in 2017 with 85 of those payments going to what the study cause spontaneous purchases and the other 15 going towards regular bills and commitments.

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Nearly Half of All UK Payments Are Contactless

The UK is continuing to lead the way as a global leader in payments technology, according to new data from Mastercard. The firm has revealed that almost half of all in-store card transactions made in the UK use contactless technology, making it the most widely-used form of electronic payment in Europe.

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Square Offers eGift Cards in the UK

Square has announced that it will be offering eGift cards in the U.K. to help small businesses boost revenue during the upcoming holiday shopping season. The news comes as U.K.’s High Street posted its worst August performance in three years, which makes this holiday shopping season crucial for these retailers.

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Cash Use Falls Further in U.K. As Plastic Payments Rise

The value of purchases made by plastic now accounts for more than three-quarters of retail sales. Cash use fell a further 1 last year and now accounts for just 22 of purchases, according to the British Retail Consortium. But the switch to plastic hasn’t stopped Britons spending – there were almost 20 billion retail transactions […]

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UK Looks to Improve Bill Payments With ‘Request to Pay’ Initiative

The UK’s New Payment System Operator (NPSO) is inviting billers to jump aboard its ‘Request to Pay’ initiative, which will give firms and their customers more control, flexibility and transparency in bill payments.

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Debit Card Glitch Means Thousands Charged Twice

Thousands of people in the UK were charged twice for debit card payments. The error occurred due to an issue with a particular card terminal run by Cardnet, a joint venture between Lloyds Bank and First Data. Money came out of bank accounts twice but transactions only showed up once on many shop, pub and […]

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Britons Concerned Over Security of Contactless Payments, Research Finds

Davizro Photography – stock.adob British consumers are increasingly favouring contactless payments over using cash, despite enduring security concerns about the technology, MoneySuperMarket research shows.

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