UK Finance has published its Household Finance update for December 2018 which have revealed that over £11 billion spent on credit cards which showed an 8.8 per cent increase when compared with the same month the previous year. The outstanding level of credit card borrowing grew by 4.7 per cent in the twelve months to December. Personal…

The Payment Systems Regulator (PSR) has published its final terms of reference for a market review into the supply of card-acquiring services. Card payments are an increasingly important payment method, with debit cards becoming the most frequently used payment method in 2017. For businesses to accept card payments, they need to buy card-acquiring4 services. The cost of…

The latest statistics from Accountant in Bankruptcy (AiB) have highlighted a 10% rise in bankruptcies with an overall increase in Scottish personal insolvencies continuing to be driven by growth in the protected trust deed (PTD) market. In the third quarter of 2018-19 covering the period 1st October to 31st December, there were 1,981 PTDs in…

Automated payments hit an all-time high in 2018 with brand new annual, monthly, and daily records set. Bacs Payment Schemes Limited (Bacs), owned by leading retail payments authority Pay.UK, processed a mammoth 6.4 billion transactions worth just shy of £5 trillion across the year. That continues more than a decade of growth – back in…

Consumers are starting 2019 with outstanding borrowing from 2017, with 3.1 million people still paying for Christmas 2017 according to a new study by Sainsbury’s Bank Credit Cards. The study found more than a quarter (27%) of people have debt remaining from two years ago. This New Year, UK adults still owe money from 2017…

New survey findings commissioned from YouGov by StepChange Debt Charity reveal that more than a quarter of us (27%) started the New Year feeling uneasy about our finances. Among people who feel uneasy, two thirds (65%) have felt this way for more than a year. A fifth (22%) have felt uneasy for more than five…

New research by Leeds Building Society found nearly a quarter of people in the UK who celebrate the festive season (24%) don’t save ahead for it at all. Conversely, 15% of those surveyed start saving in January although 39% tend to leave it much later and start putting money away from September onwards. As part…

Provident Financial, expects its full-year results for 2018 to be on the “lower end” of market expectations. The prediction as was made as part of the company’s trading update for the financial year ending 31st  December, the company said profits are anticipated to be at lower end of the range of market expectations of £151m to…

Cardstream has announced a fraud prevention alliance with Gala Technology, aimed at protecting thousands of embattled Card Not Present Mail Order Telephone Order (CNP MOTO) merchants. By embedding Gala’s SOTpay technology into its Merchant Management System, Cardstream has ensured that its rapidly expanding network of reseller Partners and tens of thousands of merchants will have…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 2% in November, compared with the same month in 2017. Credit card and personal loan new business together grew by 1% compared with November 2017, while retail store and online credit new business increased by 2%. Second…