Payments watchdog won’t be abolished ‘any earlier than 2027’ Regulation The boss of the payments watchdog has said he doesn’t expect the regulator to be officially abolished any earlier than the first quarter of 2027 as criticism grows over the slow progress of reforms in the sector. David Geale, managing director at the Payment Systems Regulator (PSR), said he had “not seen the outcome” of [...]
Banks to set own contactless limit as FCA scraps cap Banking UK banks will be able to set their own contactless limits under new rules set to be introduced by the City watchdog next year. In the current system, banks place a cap on payments of up to £100 per transaction when consumers are using physical contactless cards. But changes introduced by the Financial Conduct Authority [...]
Paypal becomes latest fintech to capitalise on Trump’s deregulation Fintech Paypal has its sights set on acquiring a banking licence in the US as it becomes the latest fintech aiming to jump on President Donald Trump’s deregulatory agenda. The payments giant on Monday said it had submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation to form Paypal Bank. [...]
British billionaire trader offers interns £26k a month September 4, 2025 A billionaire trader has said interns at his trading empire would be paid $35,000 (£26,000) as firms fight to snap up the best tech talent. Alex Gerko, boss of XTX Markets, is offering postgraduates a 12 to 14-week research internship where they could pocket between $105,000 and $122,500. The position, a role commanding four days [...]
Thames Water agrees payment plan with Ofwat for historic fine August 27, 2025 Thames Water has agreed a payment plan with Ofwat for its £123m fine over rule breaches tied to its wastewater operations and dividend payouts. The payment plan will see 20 per cent of the total penalty – £24.5m – paid no later than 30 September this year. The penalty will not be funded by customer bills, [...]