faster payments in news
Banks unprepared for EU payments directive
News One of the effects will be to speed up payments in the same way as the Faster Payments regulations already in force in the UK. The cost of complying with the EU Payments Services Directive (PSD) could amount to €6bn over the next 18 months for 30... [14 Jul 2008]
Faster payments ends wait for bank clearance
News Consumers will be celebrating the end of the three-day wait for payments clearing with the launch of the new faster payments service today. The OFT-driven faster payments initiative, which seeks to reduce payment clearing times for internet and... [27 May 2008]
Sepa fraud risk warning for businesses
News The Single Euro Payments Area (Sepa) directive came into operation at the beginning of the year and Faster Payments protocols are due to go live in May. As Europe starts to adopt pan-continental payments systems, UK payments takers are ill-equipped... [03 Apr 2008]
Top 10 financial services stories of the year
News The Faster Payments system was designed to make transactions near real-time. Other issues that dominated the channel were an IT skills shortage within the financial services (FS) sector, offshoring and faster payments - or the lack of it. [17 Dec 2007]
Cheques gone by 2018?
News The Faster Payments Initiative [slated for May 2008] should allow the sort of transactions conventionally done through cheques over electronic means in a guaranteed way. The consultation document published by the Payments Council this week calls... [27 Nov 2007]
Is cash costing you three days per year?
News Head of innovation and acceptance for Visa Europe, Sandra Alzetta, said with more than 70 per cent of commuters admitting to spending up to £50 in cash each week on sundry expenses, it is "easy to see the opportunity" for contactless payments as a... [29 Oct 2007]
Women deserting tech industry
News Women are also more likely to receive a bonus than men, with just under half in the IT sector (46.5 per cent) receiving one-off bonus payments in 2006, compared to 30.8 per cent of men. But the research found female managers actually enjoy faster... [04 Sep 2007]
Faster bank transfers delayed to next year
News The introduction of a service that will allow bank customers to make payments faster has been put back to May 2008 to allow enough time for the technology to be fully tested. The Faster Payments system will allow bank customers to make payments in... [15 Aug 2007]
Faster payments plan slows down
News The UK Faster Payments programme has been delayed due to testing of the system taking longer than first anticipated. The programme is aimed at allowing bank customers to complete payments made online or on the phone, as well as standing orders... [13 Jul 2007]
Retailers fear contactless payments
News Retailers are increasingly worried that the forthcoming launch of contactless payment cards in the UK could leave them significantly out of pocket as the cost of accepting payments this way could be potentially much more expensive than cash. [24 Apr 2007]
Voca finds the missing Link
News Voca and Link have been working together on the Faster Payments project - a UK banking initiative to speed up internet, phone and standing order payments - with the goal of making real-time payments a reality by November this year. [06 Mar 2007]
RE:Viewing 2006: The year in financial services
News Biometric payments, robo-trading and 'green' workstations spiced up the mix, says Tim Ferguson.kicked off with a prediction from Accenture that half of IT development and maintenance operations for financial services organisations would be... [19 Dec 2006]
Banks to speed up cheque clearing times
News Government research has found the number of cheques in circulation is falling by around eight per cent per year, and this rate of decline is likely to increase substantially when a new, faster payments service becomes available in November 2007. [14 Nov 2006]
European IT companies miss out on bank deals
News IT investment also continues to be driven by regulation around payments, with the UK Faster Payment and SEPA initiatives. The analyst house said this will involve "fundamental shifts" in the way payments are processed and is driving business... [10 Nov 2006]
Voca revs up payments engine
News One of those regulations, the Single Euro Payments Area (Sepa), is set to handle cheaper and faster cross-border transactions, which led Voca to the redesign. The system at the heart of the UK's automated payments infrastructure has been replaced... [25 Jul 2006]
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