Two UK payment systems consolidated under New PSO
by Bija Knowles
The operational responsibility for two of the UK's payment systems, Bacs and Faster Payments, has been transferred to the New Payment System Operator
Paying Suppliers
Background
There are three types of suppliers: high volume trading partners, regular suppliers and one-off/occasional suppliers - see figure. Each type requiring different payment solution. Types of…
Read moreDeath of cash and payment cards greatly exaggerated
by Jack Large
New study and new payment card technology shows both growing
European Commission tackles late payments in food supply chain
by Bija Knowles
Late payments are a scourge throughout business supply chains worldwide. Now the European Commission has announced action to ban unfair trading practices in the food supply chain
The cost of managing a global payments programme in-house
by Bija Knowles
What does implementing a payments compliance programme actually involve? An infographic by Hyperwallet sets out some of the considerations companies will need to manage
Business welcomes UK resolve to end late payment crisis
by Bija Knowles
The Spring Statement brought some good news for UK businesses as Chancellor Philip Hammond promised a review on how to stop the problem of late payments
EPC launches consultation on SCT, SCT Inst and SDD
by Bija Knowles
The European Payments Council has launched a public consultation on possible modifications to four of its payment schemes
2018 forecast for payments and commerce
by Jack Large
40 global leaders share how they expect things to play out in the industry in 2018
UK payments in 2017 - the key data
by Jack Large
Faster Payments growing fastest but BACS and CHAPS dominate
USA Payments: 37 days to ACH same day funds availablity and standards initiative
by Jack Large
NACHA is driving many of developments with target on same day funds availability and setting up online community to support standardization of payments
Late payment is bad for business – yet 27% of UK invoices paid late
by Bija Knowles
Keeping suppliers waiting beyond the payment terms for invoice payment makes no economic sense and is damaging the supply chain – yet 27 per cent of invoices are paid late in the UK
Carillion - slow payments have devastated suppliers, and SMEs are the worst hit
by Paul Christensen , Co-founder and CEO, Previse
It’s in the interest of large corporates to have their suppliers paid fast, not slow. Buyers and sellers alike want this solved......
Late payment is the silent killer of modern business and it’s getting worse
by Jack Large
Survey shows that 62% of invoices issued by UK SMEs in 2017 (worth over £21b) were paid late
Citi’s Worldlink® Payment Services expand cross-currency ACH to 60 countries
by Jack Large
2018 expansion will extend ACH service to 69 countries
Hot on the heels of the digital revolution
by Bija Knowles
Embracing the changes that come with e-payments can make treasury relevant to the customer experience, as discussed by two corporates in the auto sector and oil sector.
9 facts to clarify how PSD2 will affect security and e-payments
by Bija Knowles
A fact sheet published by the European Commission explains how the payments directive will pave the way for innovation and enable a safer payments environment for consumers and businesses
Finance teams should embrace automation of supplier invoices
by Bija Knowles
Many financial jobs are under pressure from automation and while the main concern is the threat to job security, machines will take on some of the most tedious and frustrating jobs in finance
Cancerous late payment behaviour continues
by Jack Large
Staff at Kantar, WPP, have been encouraged to wait until next year to pay outstanding invoices. Do you prefer exploiting SMEs too?
Same Day ACH payments up 140% in US
by Bija Knowles
The volume of Same Day ACH payments more than doubled over the past two months to 10 million in October 2017, compared to a transaction volume of 4.1 million in August
More CFO collaboration with procurement can impact bottom line
by Bija Knowles
Procurement and finance departments are not collaborating sufficiently, with only around half of CFOs surveyed saying they work closely with procurement and support procurement technology
Sunlight Payments platform = SWIFT GPI on steroids
by Jack Large
Sunlight Payments will revolutionize the way charitable organizations and NGOs around the world manage and track their payments and grants
US Bank teams up with Zelle for B2B disbursements
by Bija Knowles
US Bank has teamed up with payment service providers Zelle and Supplier Prefer Pay to offer two disbursement solutions for businesses
UK faster cheque clearing roll-out begins
by Jack Large
New cheque imaging clearing system begins operation
Invisible transaction technologies set to take off and change payments
by Bija Knowles
Retail transactions processed through “invisible payments” technologies such as Amazon Go will increase eightfold in value in the next five years, according to a study by Juniper Research
Non-cash transactions continue record global growth but cash still dominates
by Jack Large
World Payments Report 2017 from Capgemini and BNP Paribas reveals non-cash will grow at 20%/year in emerging markets