U.K. consumer credit continued to expand at a brisk pace in August, topping 10% year-on-year (YOY). In August total consumer credit grew to £187.9 billion. The three-month annualized and twelve-month growth rates, seasonally adjusted (SA), were 10.4% and 10.3% respectively. The Bank of England (BOE) reports consumer credit increased by £1.6 billion in August, in…
Nearly half (44%) of UK retailers say the outcome of the Brexit vote has led them to reconsider planned investments in new technologies and channels to market, something which Worldpay believes could limit retailers’ ability to grow if left unchecked. According to data from the CBI, retail sales volumes grew at their best levels for…
U.K. consumer credit continued to expand at a brisk pace in June, topping 10% year-on-year (YOY). In June total consumer credit grew to £186.0 billion. The three-month annualized and twelve-month growth rates, seasonally adjusted (SA), were 11.0% and 10.3% respectively. The Bank of England (BOE) reports consumer credit increased by £1.8 billion in June, in…
The UK saw Europe’s largest annual jump in card fraud losses for 2015. Most of the 18% rise in losses came from online transactions, reflecting the growth in this channel, the ease of accessibility to funds and lower risk for criminals, and the theft of personal data through cybercrime. The online map, based on data…
U.K. consumer credit continued to expand at a brisk pace in May, hovering around 10% year-on-year YOY. In May total consumer credit grew to £184.3 billion. The three-month annualized and twelve-month growth rates, seasonally adjusted (SA), were 10.7% and 9.9% respectively. The Bank of England (BOE) reports consumer credit increased by £1.5 billion in May,…
U.K. consumer credit continues to expand at a brisk pace, hovering around 10% year-on-year YOY. In April total consumer credit grew to £183.2 billion. The three-month annualized and twelve-month growth rates, seasonally adjusted (SA), were 10.4% and 9.6% respectively. The Bank of England (BOE) reports consumer credit increased by £1.3 billion in April, compared to…
Omni-channel Managed Payment Services provider, The Logic Group,reports its Solve DataShield Payments Solution is the first in the world to receive global accreditation from the PCI Council for Point-to-Point Encryption Version 2 (P2PE v2). The key benefit of P2PE v2 is its modularity. Merchants using this solution will not only gain the established benefits…
The frequency of credit card usage in the UK increased at a CAGR of 9.4% during 2012-2014 and the frequency of transaction is expected to reach up to 61 times by 2020. According to the P&S Market Research “UK Cards and Payments Market – Size, Share, Development, Growth and Forecast to 2020” report, the total…
The Bank of England and others want consumers being held responsible for fraud, a move that could ultimately spur more criminal activity. Bank and e-commerce fraud cost British financial institutions nearly £395 million last year, but those huge costs have been traditionally borne by financial institutions, not their customers. However, with fraud growing and the…
Global consumers now expect real-time interactions with brands on a platform of their choosing. These interactions should be highly personalized and relevant, and as ever, consumers expect to be rewarded for their continued custom. Brands that are not innovating and addressing evolving customer expectation will simply be left behind. New research from the UK’s Collinson…
International payment systems provider, VocaLink, has inked a five year deal to provide exclusive processing for the LINK ATM network. The deal is the UK’s largest ever ATM processing deal and is expected to deliver over 16 billion transactions. Under the five year contract with LINK and its 38 Members, VocaLink will provide ATM switching…
U.K. consumer credit continues to expand at a brisk pace, hovering around 10% year-on-year YOY. In March total consumer credit grew at a 9.7% annual rate, seasonally adjusted (SA) to £182.4 billion. The three-month annualized and twelve-month growth rates were 11.6% and 9.7% respectively. The Bank of England (BOE) reports consumer credit increased by £1.9…