Pay.uk - All News And Posts By Crowdfund Insider

Bank of London Becomes Directly Connected Settling Participant of Bacs

December 10, 2022 @ 8:17 pm By Omar Faridi |

The Bank of London, the technology company and the “world’s first” purpose-built global clearing, agency, and transaction bank, announced it has become a Directly Connected Settling Participant (DCSP) of Bacs, which is “owned and operated by Pay.UK, the recognized operator and standards body for the… Read More

Read more in: Global, Fintech | Tagged bacs, bank of london, david piper, dcsp, digital financial services, directly connected settling participant, europe, felipe hillard, financial services, global clearing bank, internbank system, london, pay.uk, retail interbank payment system, the bank of london, transaction bank, uk, united kingdom

LHV UK Introduces Confirmation of Payee to Address APP Fraud

June 14, 2022 @ 11:34 pm By Omar Faridi |

LHV UK, a banking services provider to more than 200 Fintech and crypto firms, is pleased to announce its Confirmation of Payee (CoP) service is currently live for all its direct clients. Introduced in July 2020, CoP is a fraud prevention system that’s led by… Read More

Read more in: Fintech, Global | Tagged app fraud, authorized push payment, confirmation of payee, cop, erki kilu, europe, fraud, fraudulent activities, lhv uk, open banking, pay.uk, payments, uk, united kingdom

Over 8M Current Accounts in the UK Moved Under “Ditching” and Switching Service: Report

April 28, 2022 @ 8:25 am By Omar Faridi |

Over 8 million current accounts have reportedly been switched since a service making it a lot easier for clients to swap their banks or building society was introduced. The Current Account Switch Service (Cass) was introduced back in 2013 in order to remove all the… Read More

Read more in: Fintech, General News, Global | Tagged banking, cass, current account switch service, current accounts, Customer Experience, cx, david piper, europe, financial services, pay.uk, uk, united kingdom, user experience, ux

UK Fintech Modulr Raises Faster Payments Limit to £1M for Customers, As Default

March 3, 2022 @ 3:08 pm By Omar Faridi |

The team at UK Fintech Modulr notes that they are pleased to let their clients know that their Faster Payments transaction limit has “increased from £250,000 to £1 million for inbound and outbound payments, in line with the retail payments authority, Pay.UK, which went into… Read More

Read more in: Fintech, Global | Tagged altay ural, digital financial services, europe, faster payments, financial services, fintech adoption, fintech trends, modulr, pay.uk, uk, united kingdom

Pay.UK Releases Technical Info for Entities Aiming to Implement ISO 20022, and Transition to Improved Retail Payments

July 7, 2021 @ 12:22 am By Omar Faridi |

The New Payments Architecture (NPA) will aim to offer various benefits for businesses and personal clients residing in the United Kingdom, which may assist with improving the way they control their professional and personal transactions while creating more innovation opportunities. The adoption of the ISO… Read More

Read more in: Fintech, General News, Global, Politics, Legal & Regulation | Tagged europe, iso 20022, james whittle, pay.uk, payments, uk, united kingdom

UK Fintech Modulr Reportedly Becomes First Non-bank or Building Society to Join Confirmation of Payee Service

September 5, 2020 @ 3:32 pm By Omar Faridi |

Earlier this week, Modulr reportedly became the very first non-bank or building society to join the Confirmation of Payee service, which allows people to check whether the payment details they’ve provided for an individual or company match the details that are held by the recipient’s… Read More

Read more in: Fintech, Global | Tagged brian cunnington, confirmation of payee, financial fraud, fraud, fraud prevention, fraudulent activities, fraudulent transactions, modulr, Myles Stephenson, pay.uk, payment confirmation, payment fraud, uk, united kingdom