Pay.UK is the new home for Bacs, Faster Payments, and Cheque and Credit Clearing and, it has now completed the formal transition of their people, a skilled team with a wealth of experience across the UK’s complex payments industry. This is the final stage of bringing these important payment brands together under the Pay.UK roof,…

Cloud business management solution specialist Sage has announced a partnership with payments fintech, Modulr, to simplify the task of managing accounts payable and payroll payments for millions of UK businesses. The Modulr and Sage partnership aims to improve the payments offerings available to small and medium-sized enterprises (SMEs) and accountants; helping to bring much-needed innovation…

UK Finance has released its latest Household Finance update for January 2019 The figures indicate that £10.8 billion was spent on credit cards in January 2019, this was 4.4% higher than the same month the previous year. The outstanding level of credit card borrowing also grew by 4.4% in the twelve months to January. Personal…

Here is an overview of The Money Charity’s latest statistics for February 2019: Personal debt in the UK People in the UK owed £1.625 trillion at the end of December 2018. This is up from £1.576 trillion at the end of December 2017, an extra £935.34 per UK adult, £81.72 higher than the previous month. The average total debt per…

The Money and Mental Health Policy Institute (MMHPI) has welcomed a commitment from the British Medical Association (BMA) that GPs will stop charging for the form people with mental health problems need to get debt support. The commitment by the BMA – the professional body for all UK doctors – is part of the new Five Year GP…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in December 2018 by 4% compared with the same month in 2017, and by 5% in Q4 2018 as a whole. Credit card and personal loan new business together grew in December by 5% compared with the same…

Gala Technology, developer of cloud-based, PCI DSS compliant payment solution SOTpay, has announced that it has won a PCI: 2019 Award For Excellence in January to follow up on their recent ‘Best Use Of Technology’ within a contact centre win at the national UKCCF awards in November. Jason Mace, Chairman of Gala Technology said “We are delighted…

The Financial Conduct Authority’s new rules on authorised push payment (APP) fraud have launched today (Thursday 31st January). Under the new rules, victims of Authorised Push Payment (APP) fraud can now complain to the payment services provider (PSP) receiving their payment. In the case of APP fraud, the PSP is often a bank which holds the…

The Bank of England has today published its latest monthly Money and Credit report showing consumer credit growth slowed to 6.6 percent in the year to December 2018. Outstanding balances for consumer credit stand at £215.6 billion. The Bank of England says that the credit growth slow down reflects the continuation of relatively weak flows…

Here is an overview of The Money Charity’s latest statistics for January 2019: Personal debt in the UK People in the UK owed £1.613 trillion at the end of November 2018. This is up from £1.569 trillion at the end of November 2017, an extra £898.71 per UK adult and £78.15 higher than the previous month. The…