Fresh reports from LINK, the operator of the UK’s biggest network of ATMs, say cash usage in Britain has halved in the past few days. The closure of shops, a shift... more
Vocalink has announced that it has signed a new contract with LINK to continue to provide ATM switching and settlement services until 2031. Having been the infrastructure partner to LINK... more
Link – the UK’s largest cash machine network – wants to lower the interchange fee that card issuers in the network pay to each other and independent providers when their customers withdraw cash. There are fears this will lead to reduced provision because a lower fee would make running free cashpoints less profitable. John Howells, [...]
The post UK warning as Link plans ATM interchange reductions appeared first on Payments Cards & Mobile.
LINK figures reveal that cash withdrawals from LINK ATMs in 2015 amounted to a record £128 billion – made over 2 billion visits to the UK’s 70,270 LINK-connected ATMs. The total number of cash withdrawals only grew slightly in 2015 (by 0.8%) with the value of those withdrawals increasing by 2%. The amount cash machine users withdrew also went [...]
The post Cash remains King – despite explosive contactless growth appeared first on Payments Cards & Mobile.
The Payment Systems Regulator (PSR) has published the provisional findings of its market review into the ownership and competitiveness of the payments infrastructure that supports the payments systems; Bacs, Faster Payments System (FPS) and LINK. The PSR is now seeking feedback on the report. These payment systems are currently owned by a relatively small number [...]
The post Banks should sell their stake in UK payments infrastructure appeared first on Payments Cards & Mobile.