Payments Industry News
A collection of Payments latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
State pensioners told 'you are required' over £150 payments
State pensioners have been urged to do an online check. Sadly many thousands of people don't take action, to their financial detriment. Many people on low incomes, of working age and in retirement, miss out on extra DWP support to help towards…
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Visa wants to make payments invisible, build relevance through experiences
For Visa, the challenge is to make payments seamless while building a human connection with consumers beyond the transaction. Speaking at a one-on-one session at the afaqs! BankFin 360 conference, Gaurav Ramdev, chief marketing officer, India and…
Santander confirms £829 cash for customers with date set for payments
Santander is set to pay out £830 to customers Leading high street bank Santander has confirmed it will dish out £829 to certain customers as part of an ongoing Financial Conduct Authority (FCA) redress scheme. The FCA is currently…
Construction group's millions in mystery payments to gangsters, dead bikie
A labour hire firm allegedly involved in a network of companies that avoided $104 million in taxes forked out millions of dollars to underworld figures, drug manufacturers and accountants. Australian Taxation Office-backed liquidator McGrathNicol…
Ex-league star chased over $1m payments just before his lavish wedding
Property tycoon Lou Zivanovic's businesses received more than a million dollars from a firm linked to a network of companies that avoided $100 million in taxes, with most of the money paid in the months leading up to the former Penrith Panthers…
HMRC sending tax bills to state pensioners with Winter Fuel Payments
Pensioners with an income over £35,000 will have their Winter Fuel Payment clawed back by HMRC HM Revenue and Customs (HMRC) will be sending tax bills to state pensioners who receive a Winter Fuel Payment this year and exceed an annual income…
Andy Burnham's DWP confirms these 5 groups won't receive Winter Fuel Payment
The Department of Work and Pensions (DWP) has revealed that five groups of Brits will be ineligible for a Winter Fuel Payment, even if they are born before June 1960. The Winter Fuel Payment is given to pensioners in order to help them pay their…
Older pensioners weekly payment increase from DWP due next April
Pensioners are on course for a 3.9% boost to their State Pension in 2027 Older state pensioners across the UK are set to receive a weekly payment increase from the Department for Work and Pensions (DWP) from next April. The extra cash boost is set…
Bitcoin wallet bug let rogue servers steal funds when users tried to speed up payments
A flaw in Electrum allowed malicious servers to substitute fake pending Bitcoin transactions that users could unknowingly authorize when using Replace-by-Fee, with at least one theft confirmed. Electrum released version 4.8.3 on Oct. 24 to verify…
Retailers See Declined Payments but Miss the Second Chance to Save the Sale
The PYMNTS Intelligence report “ How These Industries Are Turning Payments Failures Into Recovers,” the October edition of The Orchestration Advantage Series, found that commerce companies use intelligent retry logic on 41% of…
Mortgage Rates Hit 7.28% & Add $215 a Month to Payments
The 30-year mortgage rate crossed 7% last week for the first time in 19 months. This week it hit 7.28%, the highest since November 2023 and the biggest one-week jump in four years. A year ago it was 6.34%. It is not the highest ever. In 1981, it…
DWP told to 'confront' PIP payments for 170,312 claimants in brutal crackdown
170,000 people in their 20s have been on Department for Work and Pensions (DWP) disability benefits for non-physical conditions continuously since they were kids - costing taxpayers £3,000 a minute. 170,312 Personal Independence Payment…
Rupee weakens on importers' dollar payments, modest buildup in long dollar positions
The Indian rupee came under pressure after opening largely unchanged on Monday, with dollar purchases by importers and a modest buildup in long dollar interbank positions adding to the drag from high oil prices. The rupee weakened through the…
DWP state pension warning for people under age 55 over their payments
A Department for Work and Pensions (DWP) state pension warning has been issued for people aged 55 and under. This cohort may need to wait longer before claiming their DWP state pension if the Labour Party government opts to accelerate the next…
M&S lowers British meat prices and says farmer payments stay the same
Marks & Spencer is cutting the price of selected British beef, lamb and pork products by up to 26 per cent, moving family staples including diced beef, lamb mince and pork sausages into its Remarksable Value range. The retailer said the cuts are an…
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