EPI Refreshed and With New Impetus

The European Payments Initiative (EPI) was established to build a unified pan-European payment system to rival Mastercard and Visa. Consumers and merchants would be able to use a card, digital wallet and make person-to-person payments. The idea was backed by the European Central Bank (ECB) and 31 banks joined the EPI.

News - May 12, 2023 midnight

UK Retailers Demand Intervention as Payments Shift to Cards

The British Retail Consortium has just published its 2021 survey of its members who account for 36% of total UK sales from 25,000 shops. While card usage soared, so has the cost of card payments, prompting the BRC to demand emergency intervention by the government to prevent price gouging by the card companies.

Cards - December 21, 2022 midnight

How Profitable are Credit Cards?

In 2019, 75% of US households had at least one general purpose credit card. Revolving consumer credit at the end of 2021 was over $1 trillion.

Cards - November 4, 2022 12:01 a.m.

Going Contactless

On 15 October 2021 the UK raises its contactless limit to £100 from £45. It also raises the cumulative transaction limit to £300 before a PIN must be entered. This increase means the UK now has the highest contactless limit in Europe and the seventh highest in the world.

Cards - September 16, 2021 midnight

Card Fees Rise Despite Interchange Fee Caps

CSMPI’s latest Insight magazine reports on card fee changes in 2021 around the world. It suggests that each tweak in the fees may appear small but, overall, the additional revenue is likely to be over $1.1 billion in the US alone.

Cards - August 25, 2021 midnight

Payment News

aRussia’s second largest bank, VTB, has been working on tools to identify the optimum location for bank branches and ATMs. It has used a wide range of parameters, over 5,000, to calculate how to reach the most customers and generate the most sales from a new location.

News - August 25, 2021 midnight

Digital Payments - and the Last Mile to the Unbanked

The Federal Reserve Board (FRB) of Atlanta has published an article by Oz Shy, ‘Digital Currency, Digital Payments, and the ‘last mile’ to the unbanked.’ As the number of cashless locations increases, the article considers what stops people going digital and looks at policy options in response.

Cash Usage - August 11, 2021 midnight

BoE and the BIS Launch the London Innovation Hub

On 11 June the Bank for International Settlements (BIS) opened its latest Innovation Hub Centre in London following on from hubs in Hong Kong, Singapore and Switzerland that have already been established. Canada, Frankfurt and Paris, Stockholm, supported by all of the Scandinavian central banks, and New York are planned to open in due course.

News - June 22, 2021 midnight

Challenges of Electronic Payments

In the last week there have been a number of payment related stories. What links them all is that they demonstrate that electronic payments face a range of challenges that have a direct impact on customers. The role of the regulator is evident in all of them whether requiring action or ‘guiding’ providers to take action.

News - June 22, 2021 midnight