article thumbnail

Six in 10 UK Small Businesses Say Late Payments Are Preventing Them From Reaching Their Full Potential

Fintech Finance

The perceived lack of control varies based on the payer. 50% of respondents believe they have little or no control over late payments from big business customers, compared to 30% from small business customers and 26% from consumer payers. Nearly a third (32%) feel they have little to no control over how to manage late payments.

article thumbnail

FCA Tells Credit Cards To Ease Up On Non-Payers 

PYMNTS

financial watchdog the Financial Conduct Authority (FCA) is telling credit card companies to reduce fees on non-payers’ debt rather than cancel cards, the agency announced on Monday (Feb. New FCA rules starting in April 2020 rules mandate that banks and building societies charge the same for all overdrafts.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

GoCardless Report Highlights the Domino Effect of Late Payments and Calls for Change

The Fintech Times

Caroline Lavelle , chief commercial Officer at FSB, said: Our latest Small Business Index reveals small business confidence hit its lowest recorded point since 2020 in the fourth quarter of last year. This perceived lack of control appears to vary based on the payer.

article thumbnail

Top 5 Debt Collection Posts for 2020: Pandemic Perspectives

FICO

Information that tells us about their financial morality – transactor not revolver, direct debit payer, early settlements of UPLs, takes advantage of interest-free offers, low LTV, lower than average balloon payment in terms, number of credit lines. For issuers – the changes in card transaction spend type and velocity.

Posting 98
article thumbnail

How FinTechs View Integrated Receivables In 2020

PYMNTS

The second trend the FinTech has noticed is that payers are seeking many different payment options. Berdan said payment portals are “becoming more commonplace” for payers to make payments to their suppliers. These types of technologies provide a better customer experience to the payer.

Payer 52
article thumbnail

Knowing When Payments Are Instant – And When They’re Not

PYMNTS

With all of the problems and challenges 2020 has thrown at us, the last thing anyone needs is a nagging perceptual rift between payees and payers about what “instant” means. Payers claim, however, that they make only 45.3 Yet, there it is. The majority of consumers, at 58.4 percent, and microbusinesses, at 70.8

article thumbnail

Global Companies See 33% Monthly Growth in Transaction Volume From Latin American Mobile Platform, Reports EBANX

Fintech Finance

. “Merchants looking to grow sales in Latin America must stay attuned to the technological evolution of payment methods in each country,” said Eduardo de Abreu , Vice President of Product at EBANX.Since 2020, when EBANX announced the integration with Nequi, the Colombian platform’s user base has jumped from 4.8

Volume 52