The payments industry in the United Kingdom is reportedly advocating for changes to fraud-reimbursement rules that are set to be enacted Oct. 7. Despite changes announced by the Payment Systems Regulator (PSR) Wednesday (Sept. 4), the industry is pushing for further amendments to these rules, Bloomberg reported Friday (Sept. 6). The Payments Association wrote to...
Tag: PYMNTS News
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UK’s CMA Says Google’s Ad Tech Practices May Violate Competition Law | PYMNTS.com
The United Kingdom’s Competition and Markets Authority (CMA) said Friday (Sept. 6) that it has found that Google may have harmed competition by using its dominance in online display advertising to favor its own ad technology services. The regulator added that it will accept comments on this “statement of objections” before deciding whether the company has...
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Unions to UK Banks: Get Ready to Retrain AI-Displaced Workers
Unions in the United Kingdom want the country’s banks to be ready to retain workers displaced by artificial intelligence. At the U.K.’s Trades Union Congress next month, labor organizations will call on lenders, insurance and accounting firms to be prepared to assist millions of workers whose jobs could be impacted by AI, the Financial Times...
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Kindle eBooks Now Accessible Through Select Peloton Products
Users of select Peloton products can now read their Kindle books on the screens of those products while exercising. This new feature is available to Peloton members in the United States, the United Kingdom, Canada, Australia, Austria and Germany on their Bike, Bike+, Tread or Tread+, Amazon said in a Tuesday (Aug. 20) press release....
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New Data: Gen Z Leads the Way as Digital Wallets Surge in the UK
Download the Report Digital Wallets Beyond Financial Transactions: U.K. Edition Digital wallets are becoming popular among consumers in the United Kingdom. In fact, nearly half (44%) of consumers in the country expect to continue using these wallets to carry out financial transactions in the next three years. But these tools have the potential to allow...
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UK’s FCA: Financial Firms Must Improve Treatment of Politicians
The United Kingdom’s Financial Conduct Authority (FCA) is looking to change its guidance to ensure that financial firms do not treat politicians and public servants unfairly. The FCA released proposed amendments to its guidance relating to politically exposed persons (PEPs) on Thursday (July 18) and invited public feedback on the changes to be submitted by...
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Cash App Exiting UK to Increase Focus on US
Cash App says it will exit the British market as it focuses on the U.S. The mobile payments service announced Thursday (July 19) that it was shutting down Cash App UK on Sept. 15 after six years. “We do not make decisions like this lightly, as we know they impact our customers, our partners, and...
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1 in 4 Consumers Want to Be Entertained While Shopping
With consumers growing accustomed to the constant stimulation of digital multitasking, many shoppers are finding that the act of purchasing is not enough to keep them entertained. By the Numbers The “How Connected Devices Enable Multitasking Among Digital-First Consumers” edition of the PYMNTS Intelligence “How We Will Pay” study drew from a survey of more...
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Jingle All the Year: The Connected Economy Transforms Christmas in July
Amid the sun-soaked days of July, a surprising holiday has taken gained popularity over the last 90 years: Christmas in July. Once one summer camp’s whimsical tradition, it has become a more widespread phenomenon, with eCommerce merchants and digital streaming platforms taking advantage of the opportunity to win connected consumers’ engagement by harnessing their year-round...
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Online Gambling Firms’ Safeguards Differ in US and UK
Online gambling firms FanDuel and BetMGM are reportedly not offering in the United States some of the safeguards they have implemented in the United Kingdom. The two companies — FanDuel is owned by Irish company Flutter and BetMGM is jointly owned by British company Entain and MGM Resorts International — are leading competitors in the U.S. online gambling market, Reuters reported Wednesday...
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UK Relaxes ‘Land-Based Gambling’ Rules as Online Betting Grows
The British government is loosening its rules for brick-and-mortar betting businesses as online gambling grows. The U.K.’s Department for Culture, Media and Sport issued a report Thursday (May 16) that would allow for cashless payments on gaming machines in places like casinos, arcades and bingo halls, while introducing an age limit of 18 for these machines. The rules would allow establishments to...
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UK Consumers Love to Shop From the Comfort of Their Homes
Shoppers in the United Kingdom love eCommerce, disproportionately preferring to make purchases online without engaging with physical stores, PYMNTS Intelligence reveals. By the Numbers The PYMNTS Intelligence study “2024 Global Digital Shopping Index: U.K. Edition,” commissioned by Visa Acceptance Solutions, drew from a survey of 2,200 U.K. consumers to understand recent trends in U.K. consumer behavior...
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