Accounts Payable News^®

Thurs 6th May, 2010

More than 280,000 people will be forced to pay the new 50p rate of income tax in 2010/11, according to a report in the Telegraph.

The paper says official figures disclosed last night show HMRC expects to collect an additional £10bn in income tax, with £9bn of that coming from those on wages above £40,000.

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March 26, 2010

AirPlus International, the award winning travel payment provider, and Invapay Payment Solutions, a payment solutions specialist, have formed a partnership offering an innovative Purchase-to-Pay (P2P) product for both private and public sector organisations, called The AirPlus Invapay Settlement Solution. The new product will be available to AirPlus’ UK customers from the end of June, 2010.

February 18, 2010

At the end of last year, TransGlobal Payment Solutions commissioned a survey to discover the extent to which AP is affected by fluctuations in currency exchange. In some areas the results were surprising; for example, the study found that in this era of overseas outsourcing, only 10% of the respondents noted that they made foreign currency payments to pay staff.

December 17, 2009

The declining use of cheques has come to the inevitable conclusion - discontinuation.  With the use of chip & pin payment methods and with many petrol stations and supermarkets refusing to accept them - cheques are soon to be consigned to history. 

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with Efficient Electronic Payment Solutions under New OGC Framework

Government agencies to benefit from greater payment choice and financial management and control tools

London, UK -  17 September 2009

For the first time, public sector agencies in the UK will have the choice to use MasterCard electronic payment solutions for their procurement activities under the Office of  Government Commerce (OGC) Framework Agreement. Under the new framework announced by the OGC and running from 2010-2014, MasterCard solutions such as MasterCard® Purchasing Card, MasterCard® SmartData Online™ and MasterCard® inControl™ can be made available to the 3,300 national, regional and local public sector bodies in the UK through financial institutions AirPlus, Barclays, J.P. Morgan and RBS Group. The 44,000 disparate buying units across the UK Public Sector will also be able to use MasterCard payment solutions as tools to streamline and improve their purchase-to-pay processes. A global payments leader, MasterCard has been providing state-of-the-art procurement and other financial management solutions to government agencies in the UK and around the world for many years.