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With millions of people in the UK struggling to access affordable financial services, The Payments Association is calling attention to underutilised solutions including community finance options like credit unions. The association’s newly released paper: “Redefining Community Finance: Unlocking Pathways to Financial Inclusion” highlights the potential of these institutions but also the significant barriers hindering their growth.
As the cost-of-living crisis continues to impact millions of people across the UK, The Payments Association, which celebrates innovation and collaboration across the payments industry, presented its report, ‘Navigating the rising cost of living: Payments innovation as a game-changer’, to an array of cross-party MPs and representatives from regulatory bodies at Parliament last week.
The Payments Association, which celebrates innovation and collaboration across the payments industry, has released a new report that explores the intersection between the complex socio-economic issues of the cost-of-living crisis and poverty premium in the UK. The report cites the potential of fintech and payments innovation in supporting consumers through the crises, as well as the recommendations to provide a catalyst for change.
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