Weekly Headlines 24 September 2021

24th September 2021

Fraud in the UK has risen to a level where it poses a “national security threat”

Shopify helps merchants to go cross-border

Curve steps into BNPL

Claro is campaigning against BNPL

ZIP will let merchants accept Bitcoin

The British Retail Consortium is calling on politicians to tackle the cost of card fees

JPMorgan Chase has launched its UK digital bank

 

Fraud in the UK has risen to a level where it poses a “national security threat”

Fraud in the UK has risen to a level where it poses a “national security threat”, according to UK Finance, with £754m (over £4m a day) stolen from bank customers during the first half of this year – a 30% rise on the same period in 2020.Losses to authorised push payments fraud topped card fraud for the first time in H1 2021, according to new figures from the main banking body.

 

Shopify helps merchants to go cross-border

Shopify has unveiled Shopify Markets, a solution for merchants looking to open their business to foreign markets that will handle currency conversion, language translation, regional SEO, and it will also help storefronts comply with local regulations and pricing rules.

 

Curve steps into BNPL

Curve has launched Flex, a feature that turn past payments from any card into instalments. This rival to the current BNPL offerings enables customers to go back in time and convert past payments from up to a year ago, into 3, 6, 9, and 12 instalment loans.

 

Claro is campaigning against BNPL

Financial coaching app Claro Money has taken to London’s streets with a billboard campaign urging Brits to “Say bye now to Buy Now, Pay Later”. Citing figures from the Financial Conduct Authority, the firm says that the unregulated BNPL market more than trebled in size during 2020, “putting millions of customers at risk of unmanageable debt”. The Claro campaign comes as a TransUnion study shows that BNPL is often not being used as a replacement for credit cards and other lending options.

 

ZIP will let merchants accept Bitcoin

BNPL providerZip has announced it will let merchants accept Bitcoin payments in 2021 and also plans to launch a cryptocurrency trading feature.

 

The British Retail Consortium is calling on politicians to tackle the cost of card fees

The British Retail Consortium is calling on politicians to tackle the cost of card fees in the UK, as new research reveals that four in every five pounds spent in UK shops is now made with cards.

 

JPMorgan Chase has launched its UK digital bank

JPMorgan Chase has officially launched its UK digital bank, offering a fee-free current account that combines money management features with cashback rewards.

 

PSE Innovation Videos

Codat – Opportunities for Open Finance

In this full length conversation with Yasamin Karimi from Codat we discuss the benefits of Open Finance to acquirers as they seek to onboard new customers and carry out credit checks. Yasmin highlights the emerging opportunities of combining accounting, Open Banking, and commerce platform data to create a rounded view of where a business has been, its current cash position and its order pipeline.

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