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News Tag: Payments Council

December 17, 2012

Financial data at risk from unsafe passwords

by Jan Harris
Financial data at risk from unsafe passwords
According to a survey by the Payments Council the problem of having to remember a different password for several accounts means that many internet users are compromising the security of their financial data. Internet users have 22 password-protected accounts on average and many use the same log-in details for more than one account, even though this is a greater security risk ...




October 26, 2012

Elderly face difficulties in accessing cash

by Jan Harris
Elderly face difficulties in accessing cash
Elderly and disabled people are at risk of fraud because of the difficulties they face in accessing their cash. Research commissioned by The Payments Council found that many have to give financial information such as card details, Pin numbers and passwords to friends and family as they find technology too difficult to use. The decreasing number of bank branches may also make ...




November 16, 2011

MPs support cheque guarantee cards

by Jan Harris
MPs support cheque guarantee cards
The Treasury Committee, which includes MPs from all political parties, has called for the cheque guarantee scheme to be re-instated and government departments have been ordered to accept cheque payments from customers. The Payments Council, the body which sets the strategy for payments in the UK, ended the cheque guarantee card in June. However it was forced to scrap its plan to ...




July 12, 2011

Cheques will not be scrapped, say Payments Council

by Kay Mitchell
”Cheques
It has been announced today that cheques will not be phased out after the Payments Council announced it would abolish them in 2018. The Council has now decided to keep them after criticism from MPs and charities and was forced to make the u-turn after pressure from the public. Richard North, the chairman of the Payments Council, said: "It's in the ...




December 8, 2010

Banking industry still seeking cheque alternatives

by Kay Mitchell
”Banking
The banking industry has announced that alternatives to cheques are still being sought. The announcement comes after the UK Payments Council voted to phase out cheques on 31 October 2018, but stated that cheques will not be phased out until an “accessible and acceptable” alternative payment system is introduced. Cheque usage continues to decline as consumers opt to use debit cards or other ...




December 3, 2010

Debit card usage surges in UK

by Kay Mitchell
”Debit
The UK Payments Council, the body which oversees the strategy on payments systems, has said debit card usage has surged in the last year. For the first time ever, consumers are opting to use their debit cards more than coins and notes, figures revealed today. According to the Payments Council, spending on debit cards totalled £272 billion in the year to the end ...




December 16, 2009

Future of the cheque book to be decided today

by Kay Mitchell
”Future
The use of the cheque book continues to decline as consumers opt for quicker payment methods and, as a result, the cheque clearing system could end by 2018. Major retailers such as Tesco and Sainsbury’s no longer accept cheques, arguing that phasing out the use of cheques in stores resulted in quicker service and improved security for consumers. ...