FCA plans financial relief for customers amid COVID-19 pandemic
UK regulator wants a freeze on loan and credit card debt.
UK regulator wants a freeze on loan and credit card debt.
FCA says new rules will save consumers between £310m and £1.3bn a year in lower interest charges.
Consumers prefer to use P2P payments for retail purchases, paying back relatives and friends, and settling bills—but not so much for contributing to group gifts or paying housing costs, according to a new report from NerdWallet. It also found that that while only 35 percent of U.S. consumers use such P2P products as Venmo, PayPal and Square Cash, 63 percent are interested in the payment technology.
Credit card firms have come in for a kicking as the UK’s Financial Conduct Authority (FCA) has proposed new rules to help customers who are in persistent debt. This move follows the FCA’s study of the UK credit card market, which found “significant concerns” about the scale, extent and nature of problem credit card debt. […]
Credit card firm MBNA is to be taken over by Lloyds. The firm’s current owner, Bank of America, has agreed to sell it for £1.9 billion. The deal is expected to close in H1 2017.
Virgin Money has signed a long-term deal with TSYS for debit card processing in the UK. The bank is already using the payments vendor’s TS2 solution for its credit card operations.
As retailers across the country need to bring innovative customisation and convenience factors to their customers, credit cards are becoming an essential part of delivering value. Co-branded cards continue to play an important role in the retail landscape and can offer a unique point of distinction for retailers in today’s competitive environment.
Danish payment processor Nets has warned local banks of a possible data breach and advised them to block up to 100,000 credit cards.
The world has been talking about “mobile payments” for years, but the phrase means different things to different people. So what exactly are mobile payments? And how much more mobile than cash or cards can payments actually get, asks Philipp Nieland, co-founder and CTO of PPRO Group. Some people believe that mobile payments are those […]
Bank of America has introduced a new credit card that rewards customers with up to £100 annually for responsibly managing their monthly credit card payments.