In this era of connectivity, where virtual encounters often precede physical ones, online relationships have become a breeding ground for exploitation, with fraudsters capitalizing on the vulnerabilities of hopeful hearts for financial gain. This darker side of romance manifests in the rising tide of online...
Payments FinTech Bottomline has teamed with Pay.UK to help companies prevent fraud. The collaboration, announced Monday (July 17), sees Pay.UK — the recognized standards body for the U.K.’s national retail payment schemes — launching its Payer Name Verification service via Bottomline Payment Services. According to...
Pay.UK has announced it is piloting a new payments industry collaboration to help fight fraud. As the operator and standards body for the United Kingdom’s (U.K.’s) retail interbank payment systems, Pay.UK aims to bring together data from retail banks and building societies to detect and...
Over £1.2 billion ($1.5 billion) in the U.K. was stolen through authorized and unauthorized financial fraud in 2022, according to a recently published UK Finance report. And while that amounts to an 8% drop compared to 2021 figures, there’s no debate that the battle to prevent...
March 21, 2024
It’s often said that history repeats itself. It’s hard to look at the current state of play regarding instant, or real-time, payments in the EU and U.K. right now and not think about that adage. Because right after the EU standardized an ambitious plan to accelerate instant payments, the U.K. has countered with a proposal […]
February 13, 2024
In this era of connectivity, where virtual encounters often precede physical ones, online relationships have become a breeding ground for exploitation, with fraudsters capitalizing on the vulnerabilities of hopeful hearts...
May 16, 2023
Over £1.2 billion ($1.5 billion) in the U.K. was stolen through authorized and unauthorized financial fraud in 2022, according to a recently published UK Finance report. And while that amounts to...
February 14, 2023
The U.K. has been experiencing a widespread payments fraud epidemic in recent years. Authorized push payment (APP) fraud, for example, increased 40% between 2020 and 2021 and amounted to £583...
July 17, 2023
Payments FinTech Bottomline has teamed with Pay.UK to help companies prevent fraud. The collaboration, announced Monday (July 17), sees Pay.UK — the recognized standards body for the U.K.’s national retail payment schemes — launching its Payer Name Verification service via Bottomline Payment Services. According to a news release, this will give businesses more assurance that […]
June 28, 2023
Pay.UK has announced it is piloting a new payments industry collaboration to help fight fraud. As the operator and standards body for the United Kingdom’s (U.K.’s) retail interbank payment systems,...
September 17, 2020
British payments firm Pay.UK’s Answer Pay service and new enrollee Mastercard have successfully completed their first post-testing transaction involving Answer Pay’s “Request to Pay” service, Answer Pay announced on Thursday...
