Security Best Practice in Payments and Banking Outside the European Union

After much debate and campaigning over recent months, the nation went to the polls yesterday and voted in favour of the United Kingdom leaving the European Union.

The result shows that many were unconvinced of the arguments to remain, not only for the UK’s future as a whole, but also for their own personal circumstances. There has also been a lot of uncertainty about what will happen to the payments industry with the UK leaving the EU, and disagreement amongst experts continues.

However, we think one thing is for certain: the UK’s exit from the EU is unlikely to signal the widely predicted doomsday for the financial services industry, including the payments sector.

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Brexit – How might it affect payments?

On both sides of the argument there are claims and counterclaims about how Brexit – the potential occurrence of UK leaving the European Union if the referendum on the 23rd of June sees a vote in favour of leaving – will unravel pivotal social, economic and political changes.

No matter what the view on the UK’s relationship with the EU is, there is no doubt that we are closely intertwined with the organisation and its member states. Of course, whether this is a good thing is one of the many bones of contention between the Stay and Leave camps.

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