{"id":565618,"date":"2024-12-11T13:53:04","date_gmt":"2024-12-11T12:53:04","guid":{"rendered":"https:\/\/ibsintelligence.com\/?post_type=ibsi_news&#038;p=565618"},"modified":"2024-12-11T13:54:39","modified_gmt":"2024-12-11T12:54:39","slug":"caxton-enhances-payment-security-with-tell-money-partnership","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/caxton-enhances-payment-security-with-tell-money-partnership\/","title":{"rendered":"Caxton Payments enhances security with tell.money partnership"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-565620 alignright\" src=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2024\/12\/Caxton.jpg\" alt=\"Caxton, Caxton Payments, tell.money, Secured Payments, APP Fraud, CoP Service, FinTech, UK\" width=\"176\" height=\"176\" srcset=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2024\/12\/Caxton.jpg 200w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2024\/12\/Caxton-150x150.jpg 150w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2024\/12\/Caxton-100x100.jpg 100w\" sizes=\"auto, (max-width: 176px) 100vw, 176px\" \/>Caxton Payments has teamed up with <a href=\"https:\/\/www.tell.money\/\">tell.money<\/a> to introduce Confirmation of Payee (CoP) services, adding another layer of security to its platform and ensuring customers\u2019 funds are more protected than ever.<\/p>\n<p>This collaboration comes at a crucial time. Authorised push payment fraud in the first half of 2024, though declining, still reached 97,344 cases and caused personal losses of \u00a3166.5 million and business losses of \u00a347.2 million.<\/p>\n<p>The partnership will integrate tell.money&#8217;s Confirmation of Payee service, a fully managed SaaS solution that enables both business and consumer clients to verify account details before initiating payments. This development aligns with the growing industry adoption of CoP, which has seen huge growth in the daily checks run by payment organisations.<\/p>\n<p><span style=\"margin: 0px;padding: 0px\"><strong>Alana Parsons, Caxton&#8217;s COO,<\/strong> said, \u201cAt Caxton, we are dedicated to safeguarding our customers\u2019 payments with industry-leading security enhancements, like our new confirmation-of-payee checks. This additional layer of verification helps our users avoid accidental misdirected payments and strengthens protection against fraud. Our customers\u2019 peace of mind and the security of their funds are at the heart of every innovation we bring to the Caxton platform.\u201d<\/span><\/p>\n<p>The implementation comes as the UK\u2019s Payments Systems Regulator expects to see near ubiquity of Confirmation of Payee by its deadline at the end of October 2024, marking a significant milestone in payment security. The service will be available to all Caxton clients, allowing them to verify recipient details before initiating transfers, thereby reducing the risk of misdirected payments and fraud.<\/p>\n<p><strong>David Monty, CEO of tell.money<\/strong>, said, \u201cWe are thrilled to be working alongside Caxton on this vital project. Like us, the team at Caxon is determined to provide services that place the customer at the centre. Our CoP solution certainly delivers that peace of mind, not just for Caxton and its customers but also for the wider ecosystem interacting with those account holders. We believe that a well-functioning payments ecosystem provides the best possible outcomes for all end users, and we are delighted to be working with like-minded people at Caxton.\u201d<\/p>\n<p>As the holiday season approaches, this enhancement provides timely reassurance for both businesses managing year-end payments and individuals sending money to family and friends.<\/p>\n","protected":false},"author":35737,"featured_media":565620,"parent":0,"template":"","categories":[42764,11384,11372],"tags":[27503,25012,24398,48485,21017,48487,11515,28073,41895,19870,48486,34299,11406],"class_list":["post-565618","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-digital-payments","category-payments","category-risktech","tag-app-fraud","tag-authorised-push-payment","tag-caxton","tag-caxton-payments","tag-confirmation-of-payee","tag-cop-service","tag-fintech","tag-payment-fraud","tag-payment-verification","tag-secure-payments","tag-secured-payments","tag-tell-money","tag-uk"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.9 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Caxton enhances payment security with tell.money partnership<\/title>\n<meta name=\"description\" content=\"Caxton Payments has teamed up with tell.money to introduce Confirmation of Payee services, adding another layer of security to its platform\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/caxton-enhances-payment-security-with-tell-money-partnership\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Caxton Payments enhances security with tell.money partnership\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. 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