Tagged: hannah nixon

First! Bank of England Approves Transferwise as a Payment Service Provider with Direct Access to UK Payment System

The Bank of England has approved the first non-bank payment service provider to join the UK payment system settling in central bank money. Described as a milestone event for the BoE in accommodating innovation, this is the first Fintech to gain direct accesss. Transferwise is… Read More

UK Payment Systems Regulator Tackles Payment Scams

The Payment Systems Regulator (PSR) has published draft “Terms of Reference” outlining how it intends to review whether the operators of CHAPS (Clearing House Automated Payment System) and Faster Payments Scheme (FPS), need to play an expanded role to reduce consumer harm caused by particular… Read More

In Need of Reform: UK Payments Infrastructure

Last week the Payments Systems Regulator (PSR) announced that reform is needed in the UK payments sector to improve competition and better serve consumers.  The announcement was made by the one-year-old agency following a report on payments released by the PSR. The PSR stated that there… Read More

The UK Wants to Lead the World in Digital Payments & Regulators are there to Help

The UK has already staked a claim in the broader category of Fintech having created the concept of Peer to Peer Lending and fostering the most vibrant equity crowdfunding ecosystem in the world. None of this could have been accomplished without the explicit assistance of… Read More

PSR: UK Banks are Stifling Innovation & Competition in Payments

The Payment Systems Regulator (PSR) has told UK banks they should “sell their stake in UK payments infrastructure”. The statement comes after the release of an interim report that reviews the UK’s payment system. The assessment pretty much tells banks they are stifling innovation and competition…. Read More

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