UK Government proposes major reforms to B2B payment practices

This pivotal moment expands Payments Canada's membership eligibility and access to our systems, promoting competition and safe innovation for the benefit of people living in Canada, their businesses and our economy. Learn more: https://lnkd.in/g4BdFM5r #PaymentsMatter

Big news business owners 🙌 Following the news of the UK governments plans to tackle late payments, They are looking from input from businesses like YOURS! So, what would you like to see implemented to make late payment times better ✅ Let me know in the comments 💬 #mycreditcontrollers #latepayments #fsb #smallbusinesssupport #businessowners #uknews

Canada, Payments Canada: Payments Canada Amends By-laws to Expand Membership and Clarify Roles Payments Canada has amended By-laws No. 1 and 3 to align with changes in the Canadian Payments Act and the introduction of the Retail Payment Activities Act. These amendments aim to broaden membership and participation eligibility, fostering competition and innovation in the payment ecosystem. By-law No. 1 updates membership criteria and the Stakeholder Advisory Council structure, requiring payment service providers to register under the Retail Payment Activities Act and clearing houses to demonstrate compliance with the Payment Clearing and Settlement Act. By-law No. 3 clarifies the roles of credit unions in the Automated Clearing Settlement System, ensuring compliance with Payments Canada's by-laws and rules. These changes also allow for the inclusion of non-member credit union locals in group structures, aligning with the current clearing system. Technical amendments harmonize terminology with the Canadian Payments Act, enhancing clarity and consistency. Source: https://lnkd.in/gwixb622

Last month, the Government announced new measures to reduce the impact of late payments on #SME businesses. But do the measures go far enough? https://lnkd.in/epQBd6yR

European Payments Council (EPC)'s Verification of Payee scheme rulebook enters into effect. Head to the comments for more details. ⬇️ ⬇️

The government is committed to tackling the serious issue of late payments. Every year, late payments cost the UK economy nearly £11 billion and force 14,000 businesses to close—an average of 38 closures every single day. These figures highlight the scale of the problem and the urgent need for action. Late payments are one of the most common complaints from small businesses. Larger companies too often delay paying their smaller suppliers, using their size and leverage to avoid prompt payment. This behaviour undermines trust and puts smaller firms in a vulnerable position. Currently, more than a quarter of UK businesses—28%—are affected by late payments. At any given time, an estimated £26 billion is owed in overdue invoices. Over 1.5 million businesses are caught up in this cycle, slowing down productivity and placing a significant drag on the UK’s economic growth. The government is now consulting on new legislative proposals to tackle late, long, and disputed B2B payments. It will run from 31 July 2025 to 23 October 2025. Respond now via the online survey (https://lnkd.in/eFi2pDbd) and help shape policies that support small business survival and growth.

The coming into force of the Canadian Payments Act amendments and the Retail Payment Activities Act (RPAA) supports a more competitive and innovative payment ecosystem. Payments Canada has implemented necessary amendments to By-laws No. 1 and 3 to support this transition. These changes formally broaden membership eligibility and #participation, ensuring our critical infrastructure remains aligned with the new regulatory environment. The ultimate goal is to drive #competition, foster safety and support economic growth through a more inclusive #payment ecosystem. https://lnkd.in/gwixb622 #PaymentsMatter

The late payment of invoices has been a longstanding bugbear for the UK's SME businesses as well as the self-employed. Late payments are significant barriers to growth, while many owners and managers are forced to spend disproportionate time chasing payments. This results in cashflow problems, causing many to struggle. Now, the government is taking tougher measures to tackle the issue of late payments in its Small Business Plan. Here, we take a look at the problem of late payments and assess the government's response. https://bit.ly/48LpOKq #LatePaymentsUK #SmallBusinessStruggles #CashflowWoes #GovernmentAction #SMEsInChallenge #StAlbans #StAlbansBusiness #Accountants

RBI had issued ‘Guidelines on Regulation of Payment Aggregators and Payment Gateways’ for regulation of entities that were engaged in online payment aggregation. Thereafter, RBI had invited public comments on revised draft regulations. Comprehensive Master Direction for Payment Aggregators are issued on 15th September 2025. The key highlights are explained here #casushrutchitale #rbi #payments #paymentaggregators #paymentgateway

Gross non-performing assets for the banking system's micro, small and medium enterprises portfolio are likely to rise moderately to about 3.9 per cent by FY26-end, a domestic rating agency said on Monday. Read more: https://trib.al/y9IC1Uz #MSME #Crisil #NPA