Payments Industry News
A collection of Payments latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Mobile payments on the rise but cash decline slows
Consumers are increasingly relying on their mobile phone to make payments rather than carrying bank cards, new data shows. Two-thirds of adults in the UK were registered with at least one mobile payment service last year, according to an annual…
Use of yuan hits 6-month high in Hong Kong's fast-payment system
Hong Kong's fast-transfer payments denominated in yuan surged to a six-month high in July, signalling accelerating adoption of real-time cross-border retail payment channels even as mainland Chinese authorities maintain tight controls on capital…
Cash expected to make up just 4% of payments by 2035 as digital innovation grows
More than nine in 10 (91%) UK adults were using least one form of online, mobile or telephone banking in 2025, according to a banking and finance industry body. The proportion increased from 88% of adults who were using remote banking in 2024, UK…
Apple overhauls Europe app store fees to resolve payments clash
Apple on Tuesday announced that alternative, third-party app stores in the European Union will be charged a 5% commission on in-app purchases as part of a new system of software commissions for iPhone apps. The iPhone maker says its new fee…
Reserve Bank Of India Faces 'Cash Paradox' Despite Digital Payment Growth
The Reserve Bank of India is grappling with a significant 'cash paradox,' where physical currency in circulation continues to rise even as digital payment adoption surges, posing a complex challenge for future currency demand forecasting and…
Health Insurance, Subscriptions, Electricity: Twint Plans to Bundle Payments in the Future
Banks are phasing out direct debit—Twint wants to step into the breach. (File photo) Paper forms and complicated direct debit authorizations will soon be a thing of the past. Starting in 2027, Twint will introduce a new direct debit feature…
Space boss defends employing ex councillor who got 'secret payment
A company CEO has defended employing a former Cornwall Council cabinet member who was at the centre of a political controversy regarding a role at Spaceport Cornwall, where he is still based. There has been a call for an investigation into why…
DWP £114 payment change for state pensioners in August with 4 conditions set
State pensioners who receive a £114 DWP benefit due to a widespread condition could find their payments landing three days ahead of schedule, on top of their regular state pension. The August Bank Holiday will prompt the DWP to issue early…
Payment Asia Group Secures Canadian MSB Licence, Group's AlphaPay Completes Motion Pay Integration
Strategic acquisition, integration and Canadian MSB licence strengthen Payment Asia Group's North American presence and cross-border payment capabilities HONG KONG, Aug. 18, 2026 /CNW/ -- Payment Asia Group, a diversified fintech holding company…
South Korea's Jeonbuk Bank Taps Ripple Payments
Latest News PublishedAug 18, 2026 Ripple is bringing its cross-border payments platform to Jeonbuk Bank, but key details including its launch status and settlement asset remain undisclosed. South Korea's Jeonbuk Bank has partnered with blockchain…
DWP update for all pensioners due Winter Fuel Payment this year
The Department for Work and Pensions (DWP) has issued a reminder to pensioners about important September deadlines to opt out of receiving this year's Winter Fuel Payment. Older people in Scotland can opt out of the Pension Age Winter Heating…
New State Pension payments on track to rise to £1,004 a month next year
People on the full New State Pension could see payments rise by over £514 next year under the Triple Lock as earnings growth (4.1% including bonuses) outpaces the current rate of inflation (2.6%). The increase under the earnings growth…
Amendment to Taxation Act, Payment and Settlement Systems Act get President's assent
President Droupadi Murmu has given her assent to the Taxation and Other Laws (Amendment) Act, 2026, and another law to amend the Payment and Settlement Systems Act of 2007. The bills were passed by Parliament on August 10. Also Read: UPI and the…
Check your email: State Farm sends payments to millions of drivers
State Farm has begun issuing payments to millions of its insured drivers, the company recently announced. The payments are part of a $5 billion “one-time distribution” in cash, considered the largest in the company's more than…
Citi Debuts New Custody Tools to Meet Demand for Faster Payments
The banking giant announced this new offering Tuesday (Aug. 18), noting that it is happening as “institutional investors navigate compressed settlement cycles, continuous markets and AI-driven decision making.” “Citi's Services…
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