Ahead of consolidation into @TheFCA, UK #payments regulator @ThePSR sets out annual plan - focussing on #merchant fees, A2A APP #fraud, #OpenBanking next phases, and delivery of future #payment infrastructure vision. So lots to do! psr.org.uk/news-and-updates/…

After requesting data, @CommonsTreasury committee in @UKParliament reveals recent @LloydsBank account data leak affected 450,000 accounts, of which 115,000 clicked on and saw other users #payments. £139k in compensation so far to 3,600 customers. committees.parliament.uk/com…

Capita (so bad no @) knowing they were hacked in March telling users in JULY (yes 3 months later @ICOnews) that DOB, National Insurance, work history were stolen, is a level of complete ineptitude I can only aspire to.

Attention UK Fintech: new @TheFCA "Communal Duty" announced by Prime Minister @RishiSunak in #PMQs. Possibly related to FCA Consumer Duty due 31/07. 🙃

Digital bank @Zopa, which had already abandoned its original #P2P lending focus, has confirmed rumoured acquisition of unregulated UK #BNPL @DivideBuy - as it plans push into higher value checkout lending, leveraging DivideBuy merchant & consumer product. cityam.com/zopa-dividebuy-ex…

Two years into @hmtreasury consultation to regulate #BNPL #payments, UK government publishes its' draft legislation and requests feedback. Starting to solidify plans outlined last June, which lean strongly towards lender overhead rather than #merchant. 1/x gov.uk/government/consultati…

Never made any sense. Has extracted clarity and value from a market leading merchant business. This is bad news for other acquiring / PSP businesses.

In the UK, @stripe is increasing its headline #merchant #payments charges for the first time since dropping to 1.4% + 20p in early 2016 after EU's #interchange caps. Jumps to 1.5%, 2.9% international to 3.25%, with new corporate card carve out at 1.9% 1/2 support.stripe.com/questions…

I've been in UK payments for 20 years & feel like I helped a few companies along the way. Never won an award and never thought I would. Far corner of venue in cheap seats so this was out of the blue. @Dekopay is doing something truly unique & this recognition is a blessing. #TCPA

Race for a card acquiring oligopoly continues as @GlobalPayInc acquires @EVOPayments - itself a roll up of worldwide acquiring assets - for $4bn. Pits it against Nets/Nexi, Worldline & Worldpay groups. $GPN focus on integrated/software #payments, Evo #B2B. investors.globalpaymentsinc.…

Congratulations to my friends at @tink for launching a full-stack #OpenBanking #merchant services offer in the UK. A milestone in enabling PIS #payments for businesses & PSPs in an acquiring-like solution: underwriting, reconciliation, settlement, refunds. tink.com/press/tink-launches…

Comically public spat between @Klarna & @Barclays over #BNPL. Klarna, which has spent years pumping out anti-card PR disguised as consumer debt advice, overreacts to Barclays anti-BNPL debt advice PR - the latter at least rooted in levelling up regulation. telegraph.co.uk/business/202…

And if anyone wants the Tl;dr - I'm sure there are better summarisers than me, but overall it seemed to go softer on unregulated BNPLs ("proportional" regulation) vs existing regulated providers. The AR regime position on merchants in particular protects their prior advantages.

Big news in UK #BNPL today as @hmtreasury publishes long awaited regulatory plans (following Woolard Review & 2021 consultation). Some interesting developments, in particular a delay to mid 2023 for legislation, due to further consultation. 1/6 #payments #regulation #credit

No surprise seeing a blurring of the lines between short term #BNPL hype (PayPal Pay in 4) and the utility & reach of broad instalment lending (historically known as #POSfinance). Market lacks a "one size fits all" offer & PayPal had limited longer term offer to select retailers.

In US @PayPal just expanded #PayPalCredit into "Pay Monthly": a traditional instalment finance play (6-24 months, baskets to $10,000, 0-29.9%) available to all merchants. Further #BNPL endorsement, head on with @Affirm & mainstream play for "POS finance". newsroom.paypal-corp.com/202…

I didn't clock when @Stripe yesterday launched a new global partner ecosystem (full of global consulting firms and strategic partners) that their heritage of supporting small over-the-top software providers is over. 1/2 #payments #isv #software stripe.com/newsroom/news/the…

Fantastic news that London based #regtech platform @sphonic - with its' unique orchestration layer to access the broad IDV/Fraud vendor market - has been acquired by Nordic specialist @signicat. Congratulations to Riten, Andy & team - bright future awaits for a great product.

Interesting bylines to Mangopay / Advent scale-up news - In addition to deal price (TBC), Advent commits €75m capital to make Mangopay a category leader - 2020 €5.45bn TPV, revenue €49.5m = 91bp margin - 2022F €13bn TPV, possible €1bn+ valuation at decent (9-12x) multiple?

Burned through $120m (Stripe among investors!) in just 2 years with rumoured $600k rev. only in 2021. Keep in mind this market sprung up out of nothing when Amazon 1-click US payment patent (1997-2017) expired. @fast & @bolt saw as product opportunity despite PSPs/Ecom platforms.