The Cardeo mobile app will be shut down on 9th November 2023.
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As many as a million customers could be paying close to £1,000 in interest on their credit cards each year.
It’s just one of the shocking figures highlighted in Cardeo’s new white paper: 'UK Credit Cards - how to fix a badly broken market': cardeo.com/white-paper
ALT Cardeo's new white paper, titled 'UK Credit Cards: How to fix a badly broken market'.
The Cardeo mobile app will be shut down on 9th November 2023.
If you have a repayment plan set up you will need to make alternative arrangements for making repayments to your credit cards. It will no longer be possible to make payments through the app.
Cardeo Credit customers will be contacted separately about the closure.
Please note your data remains secure and will be processed in compliance with data protection law.
If you have any questions please visit cardeo.com/support
The consequences of data protectionism are dire.
Yet a staggering 60 per cent of the UK credit card market, including Natwest, stops consumers shopping around and costs them millions.
✍️ If ministers can open up competition in the banks with the same vigour with which they cried foul over Nigel Farage’s Coutts account, millions of everyday Brits would wind up richer
@gavinshuker
cityam.com/fintechs-are-bein…
In today’s @CityAM, Cardeo CEO @gavinshuker calls on the government to bring #FairerCredit to everyone by forcing credit card issuers to comply with open banking rules.
This milestone reflects how open banking can transform the industry. But changes, including ending the data protectionism by banks, still need to be made to provide a fair system that all consumers can benefit from.
Open banking reaches 11 million+ payments milestone, and hits record 10 million single domestic payments in July 2023, marking a year of significant growth, and demonstrating the rapid pace at which #openbanking is reshaping the financial and #payments landscape.
Read more >> openbanking.org.uk/news/open…
#fintech #finance #technology
ALT open banking surpasses 10m payments in July, reaching 11+ payments milestone marking a year of significant growth, and demonstrating the rapid pace at which it is reshaping the financial and payments landscape.
Find about more about Cardeo's campaign for #FairerCredit: cardeo.com/white-paper
#openbanking #openfinance #fintech #fitnechinnovation
We're delighted Cardeo has been shortlisted in the Best Start-up and Best App categories in this year's Open Banking Expo Awards.
It's great to be recognised for creating a fairer system that helps save consumers time, hassle and money.
🥁BREAKING NEWS🥁The Open Banking Expo Awards 2023 shortlist is revealed!
Read the news story here: bit.ly/3s6SfPs
Or head straight on over to the shortlist 👉bit.ly/3OVLPf9
#OBExpoAwards2023 #OpenBanking #OpenFinance #OpenData #OpenBankingPayments #Payments
Cardeo retweeted
@InnFin @OBE_Global @cardeoapp on the potential of open banking to deliver better financial outcomes for consumers by @CityAM cityam.com/open-banking-shou… @CFIT_UK @EzechiBritton
Cardeo continues to campaign for the end of data protectionism by banks, which is preventing consumers from saving millions of pounds through new financial products.
Open banking should expand ‘systematically’ as fintech criticises ‘data protectionism’ of big banks dlvr.it/StcJSM
With the summer recess starting today, we’ve sent each MP a postcard from Cardeo.
The support of the Government is vital to fixing the credit card market.
The postcard shares three simple things that each MP can do that will help make credit fairer, save you money and put you back in control of your data.
Read more about the #FairerCredit campaign and why it’s so important at: cardeo.com/fairer-credit
It's time to say goodbye to juggling credit cards and different payment dates.
Instead, make a single payment to Cardeo each month and we’ll send it to your credit cards on your behalf.
All you have to do is set a target (such as an end date or a monthly amount) and choose a repayment approach. Cardeo will remind you when it’s time to make your payment, and how much to pay.
11 new credit cards now connect with the Cardeo app 🥳
Say hello to Argos, Burton, Debenhams, Dorothy Perkins, Evans, John Lewis, Marbles, NewPay, Opus, Tui and Wallis.
The @bankofengland have confirmed the 12th consecutive rise in interest rates - to 4.5%.
Most credit card APRs are pegged to this rate, meaning people’s outstanding debt just got more expensive.
3. Make the Open Banking Implementation Entity properly accountable to Parliament and ensure benefits of open banking are made fully available to consumers.
4. More proactive regulatory oversight of new open banking rules and compliance.