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independent ATM ISOs. He said interchange (which runs in reverse for ATM and potentially the most to lose by
and potentially the most to lose by
independent ATM ISOs. He said interchange (which runs in reverse for ATM
inaction – in other words, by staying
operators – from issuers to acquirers) has been trending downward. Operators
operators – from issuers to acquirers) has been trending downward. Operators inaction – in other words, by staying
are also paying increased compliance and card brand fees. He added that mobile complacent," Elias said.
are also paying increased compliance and card brand fees. He added that mobile
complacent," Elias said.
payments in general, as well as prepaid card payments, are "eroding cash."
payments in general, as well as prepaid card payments, are "eroding cash."
T
By opening up ATMs to facilitate P2P and other types of transactions, including Trouble for UC rouble for UC
By opening up ATMs to facilitate P2P and other types of transactions, including
mobile, independent operators can generate additional revenue that is not
mobile, independent operators can generate additional revenue that is not
in the U.K.?
in the U.K.?
dependant on banks and the card brands.
dependant on banks and the card brands.
"The independent that really doesn't have a customer base, per se, because
"The independent that really doesn't have a customer base, per se, because
they're just on the acquiring side, I think are the ones that have the most to gain,
they're just on the acquiring side, I think are the ones that have the most to gain, s the October 2013 start he October 2013 start
A date for Universal Credit for Universal Credit
s t
date
(
(UC) in the United UC) in the United
approaches,approaches,
A KingdomKingdom
t
the U.K. government agency in he U.K. government agency in
charge of implementing the pro-arge of implementing the pro-
ch
g
gram is being criticized for program ram is being criticized for program
mismana
mismanagement and for setting an gement and for setting an
overly ambitious timeline for the y ambitious timeline for the
overl
r
rollout of the controversial program.ollout of the controversial program.
U
UC is designed to consolidate C is designed to consolidate
intonto singlesingle monthlymonthly paymentspayments
i
t the various forms of government he various forms of government
assistance provided to recipients. provided to recipients.
assistance
The program is also designed to shift he program is also designed to shift
T
mone
money management responsibilities y management responsibilities
for those payments from the or those payments from the
f
g
government to recipients. But the overnment to recipients. But the
U
U.K.'s National Audit Office believes .K.'s National Audit Office believes
that the Department for Work and hat the Department for Work and
t
P
Pensions, the agency in charge of the ensions, the agency in charge of the
United Kingdom's welfare and nited Kingdom's welfare and
U
pensionension
p system,system, hashas botchedbotched
i implementation of UC to date.mplementation of UC to date.
I In a Sept. 5, 2013, report, the NAO n a Sept. 5, 2013, report, the NAO
criticized the DWP for "weak riticized the DWP for "weak
c
mana
management, weak control and gement, weak control and
poor governance" of the rollout. oor governance" of the rollout.
p
Additionally, the NAO said the DWP
Additionally, the NAO said the DWP
has spent over 300 million pounds
has spent over 300 million pounds
on information technology (IT) to
on information technology (IT) to
support UC, but cannot demonstrate
support UC, but cannot demonstrate
that the systems put in place will be
that the systems put in place will be
effective. The NAO was also critical
effective. The NAO was also critical
of the DWP for delaying the rollout
of the DWP for delaying the rollout
because it was overly ambitious in
because it was overly ambitious in
its timetable and in the scope of the
its timetable and in the scope of the
program it envisioned.
program it envisioned.
Also of concern to the independent
Also of concern to the independent
auditing arm of the U.K. Parliament
auditing arm of the U.K. Parliament
is that the DWP does not have clarity
is that the DWP does not have clarity
about how UC will function, which
about how UC will function, which
has undermined confidence in the
has undermined confidence in the
program. Apparently, the DWP has
program. Apparently, the DWP has
experienced frequent changes to
experienced frequent changes to
upper management and has lacked
upper management and has lacked
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