Payment

Focus on card fraud – The UK market in the spotlight

spike 1 week ago

Card fraud losses on UK-issued cards totalled £620.6 million in 2019, an 8% decrease from £671.4 million in 2018. At the same time, total spending on all debit and credit cards reached £829 billion in 2019, with 22 billion transactions made during the year.

Overall card fraud losses as a proportion of the amount the UK spends on cards decreased during 2019, falling from 8.4p per £100 spent in 2018 to 7.5p per £100 in 2019 (in 2008 it was 12.4p for every £100 spent).

A total of £999.2 million in card fraud was stopped by banks and card companies

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A benchmark of banking and payment apps

spike 1 week ago

The world of finance has undoubtedly been disrupted by mobile, with FinTech companies offering innovative digital services, including in-store mobile payment apps and non-bank money transfers.

EY’s Global FinTech Adoption Index 20191 suggests that internet users’ adoption of financial technology services almost doubled over the past two years, and 64% of digitally active users engage with fintech.

In a new report, The Mobile Finance Report 2020 by Adjust and app intelligence provider Apptopia, focuses on the growth of install and session rates for FinTech apps over H1 2020, how much time users are spending in-app, and how retention rates perform

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How will the ATM survive the digitisation of payments

spike 1 week ago

2020 marks the 13th edition of the ATM and Self-Service Software Trends report. And for the self-service banking segment, what a year it’s been already.

The second decade of the 21st century got off to a blazing start with the end of support for Microsoft Windows 7, the operating software that supports virtually every bank-owned ATM in the world, as well as a sizeable number of non-bank-owned ATMs.

Microsoft’s grand selling proposition for Windows 10 has largely been its promised security. As one blog stated: “Windows 10 sports a built-in firewall and security scan system in addition to the usual

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EuroCommerce and ECPA respond to EU retail payments strategy

spike 1 week ago

In a recent statement, EuroCommerce – the European retailers’ association – has welcomed the EU’s retail payments strategy (RPS) and plans for European banks to collaborate in a European Payments Initiative (EPI).

EuroCommerce and ECPA respond to EU retail payments strategy

EuroCommerce Director-General Christian Verschueren said: “The COVID pandemic has accelerated existing trends to online transactions. At the moment, this inevitably means more use of credit and debit cards. Retailers and other merchants already pay a lot for accepting cards, and even more if a transaction is online.

We are seeing, despite very welcome action on some card fees under

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