NEWS
NEWS
UK Government launches its Fair Payment Code
The new Fair Payment Code has been launched by the UK
Government to encourage businesses across the UK to pay promptly . Businesses may now apply for the award tier which best suits them : Gold , Silver or Bronze .
The tiered system of awards is aimed at awarding best practice and driving improvements in payment performance . The three award tiers are :
• Gold Award – for those firms paying at least 95 % of all invoices within 30 days
• Silver Award – for those paying at least 95 % of all invoices within 60 days , including at least 95 % of invoices to small businesses within 30 days
• Bronze Award – for those paying at least 95 % of all invoices within 60 days
In addition , every business granted an award agrees to abide by the Code ’ s principles of being Clear , Fair and Collaborative with their suppliers .
The new Fair Payment Code replaces the Prompt Payment Code .
Revolut reveals 2025 vision , with AI assistant , mortgages and ATMs on the horizon
Revolut celebrated 50 million Revolut customers and shared the company ’ s future product vision for 2025 . The company is now focused on accelerating the roll out of innovative products and services to continue disrupting global financial services in its bid to become the world ’ s first truly global bank .
AI
Revolut announced its new AI-powered assistant to consumers . Revolut ’ s financial companion will adapt to customers ’ needs and preferences in-app , guiding them towards smarter money habits , enhanced financial decision-making and streamlined admin .
Mortgages
As Revolut continues to shake up traditional financial service offerings , the company confirmed plans to launch its mortgage product in Lithuania followed by Ireland and France in 2025 . The goal is to offer a fully digital mortgage product that is the fastest on the market , aiming to issue instant approval in principle and final offer in one business day subject to asset valuation and any necessary checks .
ATMs
Revolut will soon start rolling out branded ATMs – bringing these to Spain for use in early 2025 . Revolut ATMs will dispense both cash and cards , and in the long-term accept cash deposits , with advanced security through facial recognition identity authentication .
Revolut business
In 2025 , Revolut Business will bring its first business credit product to Europe and aims to offer one of the top business savings rates in all EU markets next year . Revolut Business also plans to help companies manage their restaurant and store operations with Revolut Kiosk , for which it is exploring biometric payments , and plans to continue to push its Revolut Pay offering with multiple payment methods including , in future , Buy Now Pay Later .
12 www . intelligentfin . tech