Monthly Archives: August 2015

Fees that banks charge to businesses for processing credit and debit card payments are likely to be capped across the UK, that is according to new Government proposals, which the Chancellor George Osborne said should lead to lower prices for consumers.

It’s estimated by industry experts that the proposed rules could save UK businesses up to £480 million each year.

Sources at the Treasury have confirmed that they are currently in the process of consulting on the proposals,

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Moody’s credit ratings agency has raise concern over the increasing levels of UK consumer debt, saying that it believes that this will leave the UK economy more vulnerable to future shocks within the global financial system.

The report from Moody’s found that unsecured lending, which includes the likes of credit cards and personal loans, have increased some 7% year-on-year since December 2012, something that the firm says was particularly worrying considering the decline in savings and wages seen in the UK over the same period.

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A women has been arrested in connection to a bank card fraud case which saw a staggering £300,000 spent on a four day shopping spree in Manchester in July of last year.

As part of the shopping spree, gold bars were purchased, totaling £26,000, making them the most extravagant purchase on the stolen card. In addition to the gold, the fraudster also made off with rings, necklaces and two Rolexes, worth £18,000 each.

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The latest iteration of Microsoft’s long-standing operating system, Windows 10, will release later this month and offers users of Windows 7 and Windows 8 a free upgrade to make the switch to it, including ATM machine operators.

In a position paper from the ATMIA trade group, recommendations have been made to its members and vendors to upgrade to Windows 10 when it launches later this year, skipping over Windows 8 altogether.

A significant number ATMs throughout Europe and the US operate on Windows 7 or Windows XP,

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The percentage of fraudulent transactions on UK debit cards that occurred outside of the UK rose 25% last year, according to data from a large sample of cards analysed by software firm FICO.
Fraudulent cross-border transactions made up close to a third (31%) of all the fraudulent transactions on the 52 million active UK debit cards that were included in FICO’s study, up from 23% on the year before.

“Criminals are now opting for card-not-present and cross-border fraud,” said FICO’s fraud chief in Europe,

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1 in 4 UK consumers fear mobile payment services over cash and cards, believing that they will result in them making more impulsive purchases, leading to them spending more, according to new research from comparison website uSwitch.

The research surveyed 1,248 respondents, finding that 57% of respondents would like the ability to check their account balances on their smartphones and mobile devices and 38% would like “tap and go” payments to have a transaction value limit.

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