UKRSS

Payments UK predicts debit cards to overtake cash in 2018

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Rapid growth in the use of contactless cards means cash will be overtaken as Britain’s most frequently used payment method by the end of 2018, according to trade association Payments UK (soon to become UK Finance). Despite this surge, its latest forecast still does not herald the demise of cash – even in ten years’ […]

Gemalto bus-ts a move with GDPR double decker delight

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Should you hear a vehicle trundling down your litter-strewn UK street don’t all rush out assuming it’s an ice cream van. Calm yourself and your desires for a gigantic calorie-drenched concoction, and instead prepare for Gemalto’s GDPR Clinic. Before you ask WTF? (i.e. what the fintech) – this is payments firm Gemalto and its double […]

Form3 teams with Apply Financial for payments validation

Real-time payments are coming to you

Form3, a cloud-based fintech firm launched last year, has partnered with payments validation company Apply Financial. The deal enhances Form3’s Payments-as-a-Service platform with “automation services to validate, enrich, and fix single and bulk payments”, Form3 says.

UK challenger CivilisedBank gets banking licence

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UK digital bank CivilisedBank has received its banking licence from the Bank of England, paving the way for it to build its infrastructure and launch to customers in early 2018. As Banking Technology reported in June last year, the bank submitted its banking licence application and had planned to open for business in early 2017. […]

Cat fools bank’s voice biometric system

House cat

A UK bank has been left with its tail between its legs after its “state-of-the-art and highly secure” voice biometric system was bypassed by a cat. “Game changer” Jargon Bank, which launched last year (and updated its app and moved office), is reeling from the feline fraudster and the media wants answers. And boy does […]

Three clear winners clinch Citi integrity challenge

Citi

Citi has revealed the three winners from its Tech for Integrity Challenge (T4I) Demo Day in Dublin – all part of its plan to promote integrity, accountability and transparency in the public sector and beyond. Fintech developers from eight countries presented their working prototypes; and the “award recipients” from the Demo Day included: T4I Award […]

Twins win in HSBC voice tricking sting

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HSBC has been left red-faced after a BBC reporter and his non-identical win tricked its voice ID authentication service. The BBC says its “Click” (a weekly TV show) reporter Dan Simmons created an HSBC account and signed up to the bank’s service. HSBC states that the system is secure because each person’s voice is “unique”. […]

Samsung Pay makes its UK debut

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Samsung Pay has arrived in the UK with Visa keen to reveal that its account holders can use their compatible Samsung smartphones for purchases worldwide. In terms of Visa, the service is available to its cardholders who bank with MBNA, Nationwide and Santander. Samsung adds that its app can be used with HSBC (Mastercard and […]

Virgin Money walks away from Co-op Bank takeover talks

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Virgin Money has withdrawn from a potential takeover of the UK’s Co-op Bank as the struggling lender prioritises talks with a group of hedge funds about a financial restructuring, according to Sky News. As Banking Technology reported in February, the Co-op Bank was put up for sale – with the minority investor Co-op Group saying […]

UK watchdog investigates Cardtronics purchase of ATM provider DCP

Cardtronics

Cardtronics’ $460-million purchase of rival ATM provider DirectCash Payments (DCP) faces “in-depth” investigation by the UK’s Competition and Markets Authority (CMA) over competition concerns. Cardtronics had until 10 May 2017 to offer undertakings, but today (15 May), the CMA says: “As Cardtronics has not offered these undertakings, the CMA will now refer the merger. “A […]

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