The Aryza Group has launched ‘Aryza Recover’ a new digital solution designed to automate the management of payment plans and collection strategies. The company says that in a COVID-19 environment when businesses are managing customer payment breaks with limited resources, and consumers may be struggling and falling into arrears, Aryza Recover allows consumers to review…

The Public Sector is failing debtors, especially the most vulnerable, and needs to urgently learn the lessons from the private sector according to the Chartered Institute of Credit Management (CICM). The concept of ‘vulnerability’ is also too vague, and as such many of those most in need of help are falling between the cracks. The…

TotallyMoney has warned that consumers could be unwittingly losing hundreds of pounds by using certain financial products against their advantage. The company’s research has revealed that the majority of consumers (53%) have an outstanding debt on a credit card but no 0% promotional offer, meaning they could be paying an average interest rate of 20.77%…

New data released by UK Finance has revealed that credit and debit card activity in the UK fell slightly in June, despite non-essential shops across the UK re-opening in response to the lifting of restrictions. 933 million transactions were made across the month, a 2.7 per cent decline compared to May, and 43.1 per cent…

The Online Collections Technology Think Tank has confirmed its agenda and speaker line-up ahead of the launch event next Thursday. The Think Tank has been created as an online event platform so that collections professionals can specifically discuss the role of the technology as we move into the ‘new normal’ way of working as consumers…

The Financial Conduct Authority (FCA) has announced proposals to ensure that firms provide tailored support for users of consumer credit and overdraft products who continue to face payment difficulties due to coronavirus (Covid-19). The proposals will cover users of credit cards and other revolving credit (store card and catalogue credit), personal loans, overdrafts, motor finance,…

New research commissioned by payments provider, PayPoint, has thrown the spotlight on the small adjustments landlords and lettings agencies could make to help tenants manage their finances during these uncertain times. With concerns surrounding overdue rent particularly high, it seems that many renters would welcome a gentle nudge, in the form of a text message…

Tesco Bank is to become the first UK bank to introduce new technology that allows its 2.6 million credit card customers to more easily manage and pay their balance. The ‘Pay by Bank’ facility will be provided by Tesco Bank and enabled by Mastercard’s Open Banking Connect™ service.  It allows Mobile and Online credit card…

The Payment Systems Regulator’s (PSR) interim report on the supply of card acquiring services has been published. The report shows that merchants could make savings by shopping around and either switching or negotiating with their current provider – but many small and medium ones don’t.  Card-acquiring services enable merchants – like a newsagent or supermarket…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in July 2020 by 9% compared with the same month in 2019, and decreased by 23% in the first seven months of 2020. Retail store and online credit new business grew by 1% in July compared with the…

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