Swish is a Swedish electronic payment solution. It has now introduced a joint blocking feature to limit and prevent fraud.

The most popular electronic payment service in Sweden, Swish, has now been granted the right to introduce a joint blocking feature. The aim of the joint blocking function is to prevent fraud, and it will allow banks to block users from the entire Swish system. This makes it much more difficult for fraudsters to exploit the service and provides quicker responses when red flags occur regarding these criminals.

Joint Blocking Feature

Those misusing the service will not just be blocked from using their own bank. It will spread out across the entire Swish system. This can occur when those operating the system believe it is being used for criminal purposes or in a way that poses security risks to other customers, banks or Swish itself.

Swish continues to dominate Sweden’s mobile payment landscape, and is used by millions for everyday transactions across businesses and e-commerce. Its new joint blocking feature further strengthens protection against fraud, giving banks a coordinated tool to prevent misuse and reinforce trust in the cashless economy. Experts, including those at bedrageri.info, note that this robust system also benefits licensed Swedish online casinos, where secure and fast Swish payments ensure consumer safety and confidence in digital transactions.

Urban Höglund, the CEO of Swish, stated that the “misuse of Swish in criminal contexts is something we take very seriously. With a joint blocking function, we can act more quickly and in a more coordinated way to exclude those who abuse the service, while at the same time making Swish even safer for millions of users.”

What is Swish?

Those outside of Sweden may not be familiar with Swish. Launched in 2012, it was created by a consortium of six major banks and the Central Bank of Sweden. Its aim was to provide a real-time money transfer solution through an application. Those using it need a Swedish bank account number and a national ID.

Its original purpose had been for the transfer of funds between individuals. However, it soon proved so popular that it was used by small organisations, mainly micro traders and religious organisations, in lieu of a card reader. Companies must now pay a small fee for using it, though for individuals, it is free. It is a member of the European Mobile Payment Systems Association. The company behind it is Getswish.

Clearing Operations Authorisation Also Granted

The Finansinspektionen, Sweden’s Financial Supervisory Authority, has also recently granted Swish the ability to conduct clearing activities under the Payments Clearing and Settlement Act.

Payments and clearing are the processes by which a payment initiation, such as the swipe of a card or hitting send on an app, is processed to the final settlement. In between this, there are numerous steps. They can involve validating transactions, exchanging information, recording transfers and risk mitigation.

This is a complex process, and as a result, it must now come under the supervision of the Finansinspektionen. This relates specifically to the obligations of clearing companies. It has previously been designated by the Riksbank as a company of importance in the payment system infrastructure.

The Swedish Payments Market

Sweden is unique in that most of its payment market is entirely digital. The use of cash is continuing to fall according to the Riksbank, with card payments being the most used method of payment and mobile payments quickly catching up. Many small businesses have even stopped accepting cash, with many forgoing it over the last five years due to security issues. However, around two-thirds of small businesses asked in a recent survey by the bank do accept cash.

The same survey said that seven out of ten companies accept both Swish and cash. Many of these prefer payment methods by Swish or card, as it minimises the administrative work they have to do and provides a quicker and smoother transfer. However, there is a current Cash Inquiry which proposes that companies which sell essential goods should be expected to take cash.

Global Payment Preferences

There is now a wide range of payment methods available across the globe. These range from old-fashioned but still popular cash, all the way to digital wallets and cryptocurrencies. While this has provided even more choice for consumers, it can be hard work for businesses that need to choose the right ones for their customers.

Across the globe, around 70% of all transactions are now made by bank transfers, digital wallets, and cash payment vouchers. This is a huge change from the days of handing over coins and notes. Of these, digital wallets are the most used at 53% share of transactions. Credit cards come second at 20%, with debit and prepaid cards reaching to 12%. All of this shows just how important these changes have been.

Britain’s only tin mine could end up exporting much of its future production to the United States after the American government signalled it is prepared to provide up to $225 million (£166 million) in financing to revive the historic South Crofty site in Cornwall.

Cornish Metals, which is working to bring the South Crofty mine near Camborne back into production, has received a letter of interest from the Export-Import Bank of the United States (Exim), proposing a potential financing package linked to supplying tin to the US market.

The move comes less than a year after Cornish Metals secured a £28.6 million equity investment from the UK’s government-backed National Wealth Fund, which was framed at the time as supporting a domestic supply of a strategically important mineral.

In its statement, Cornish Metals said Exim’s interest was explicitly tied to South Crofty providing a “responsible supply of tin concentrate” to the United States, as Washington seeks to strengthen critical mineral supply chains and reduce dependence on overseas producers.

The company estimates it will cost around £198 million to restart the mine by mid-2028, with both costs and timelines increasing over the past year. It is now seeking to secure funding to cover capital expenditure and operating costs as it moves towards production. Shares in Cornish Metals rose 2.7 per cent following confirmation of Exim’s interest.

Tin is classed as a critical mineral and is widely used in electronics, renewable energy systems and advanced manufacturing. The UK currently has no domestic tin production, and South Crofty is expected to produce an average of around 4,700 tonnes of tin concentrate annually in its first five years, roughly equivalent to the UK’s total yearly consumption.

Fawzi Hanano, Cornish Metals’ chief development officer, said the US financing proposal would inevitably come with expectations around offtake.

“Exim would not give money to a foreign entity unless there’s something in it for them,” he said. “Ideally they would want all of the production, but in reality it would be a certain percentage that aligns with the level of financing being provided.”

He confirmed that none of South Crofty’s future output is currently committed to buyers and that there is no obligation for the mine to supply UK customers, despite the National Wealth Fund’s involvement.

One of the challenges, Hanano said, is that while the mine will produce a high-grade tin concentrate, the UK and Europe currently lack the smelting capacity needed to process it into refined tin metal.

“There is no smelting capacity in the UK or Europe at present, so there is no outlet for tin concentrate domestically,” he said. While the US also lacks significant smelting capacity today, it is in the process of developing it as part of its critical minerals strategy.

Hanano suggested that government-to-government agreements could still allow for some tin to flow back to UK end users in the future. “If one country has upstream capacity and another has processing capability, there are structures where material can be processed and some of it returned. That’s ultimately a decision for governments to take.”

The potential deal highlights growing geopolitical competition for critical minerals, and raises questions over how far UK-backed resource projects may ultimately serve domestic industry when global supply chains, and foreign state financing come into play.

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TraffordCity Arena will be future home of the Manchester Storm ice hockey team

A new ice rink and concert venue will be built in Trafford. The venue – TraffordCity Arena – will offer ice skating lessons and sessions, as well as hosting concerts, screenings, immersive experiences and ice hockey games with Planet Ice to run the centre.

It will become the future home of the Manchester Storm ice hockey team, which will relocate from their current base at Altrincham Ice Arena. Also included in the plans are family restaurants, bars and ‘VIP areas’.

The ‘state-of-the-art’ rink will to host up to 3,000 people, making it one of Planet Ice’s largest UK venues, and promises to offer a year-round programme of ‘entertainment and community activities’.

It will be built on the former Soccer Dome site in Trafford City, next to The Snow Centre, Trafford Golf Centre, David Lloyd, Fives Soccer, iFLY and The Padel Club.

The rink is not the limit of ambitions for the site, with further development opportunities being considered there. Peel Waters, which is delivering the scheme alongside ICITIES, said it is looking at the possibility of building hotels or more leisure facilities there.

The new venue will join a number of other developments in the area, including the £450m Therme Manchester wellness resort which is currently under construction. Once built, the rink will create more than 50 new jobs in the area.

Construction is expected to start in the spring and take up to 15 months to complete after planning permission was granted.

James Whittaker, managing director at Peel Waters, said: “Securing planning approval for the TraffordCity Ice Arena is fantastic news for the area. This is a significant step in delivering our vision for TraffordCity as a destination that offers something for everyone.

“The new arena will provide world-class ice facilities and enhance our growing portfolio of sport and leisure experiences; attracting new visitors, investment and employment opportunities to the region.”

Nick Payne, director of ICITIES, added: “This approval allows us to move forward with creating a truly unique venue. Our design combines professional ice facilities with flexible spaces for non-ice events, ensuring the arena can serve a wide range of uses and audiences.

“The design includes approximately 20,000 sq. ft of ancillary space for tenants offering complementary food, beverage and leisure facilities.”

Liz Patel, Trafford council’s Executive Member for Economy and Regeneration, continued: “Trafford Council is committed to the regeneration of the area and this project will bring a number of important benefits to the borough including the creation of 50 permanent jobs.”

Heath Rhodes, chief operations manager at Planet Ice, said: “As Planet Ice enters its 30th year, we’re delighted to see planning permission granted for this landmark project. Demand for ice facilities in the North West continues to grow, and this arena will help meet that need while delivering first class amenities for visitors. TraffordCity is the perfect location, with excellent transport links and complementary leisure attractions.”

Small business owners struggling with the stress caused by late or unpaid invoices have been offered new support, as fresh guidance is launched to address the mental health impact of cashflow pressure.

Timed to coincide with Time to Talk Day, the Office of the Small Business Commissioner (OSBC) has published new online guidance designed to help SMEs and freelancers access mental health support while also pointing them towards practical steps to tackle late payment issues.

Late payment is typically framed as a financial problem, but growing evidence suggests it can also take a significant toll on wellbeing. For many business owners, uncertainty over when they will be paid can trigger ongoing anxiety about meeting overheads, paying staff and keeping their business viable.

The new guidance brings together business-focused advice and trusted mental health resources in one place, offering support for owners who may be feeling overwhelmed. It also outlines practical actions SMEs can take when unpaid invoices begin to affect their financial stability and mental health.

The resource has been developed alongside research from Leapers, which examined the link between financial stress and mental health among small business owners and freelancers.

Emma Jones, Small Business Commissioner (pictured), said running a business can be mentally demanding, particularly when payment delays are involved. She said it was vital that freelancers and small business owners know where to turn for support and feel able to ask for help.

“Having founded a small business support platform and network before becoming Small Business Commissioner, I have seen the profound and positive impact when freelancers join a community of like-minded peers,” Jones said. “At the Office of the Small Business Commissioner we are committed to playing our part, with a focus on tackling and challenging late payment, so those going into self-employment can realise the full benefits of working for yourself.”

However, some industry figures have warned that support alone will not solve the underlying problem.

Stephen Carter, Director of Payment Strategy at Ivalua, said the guidance was right to acknowledge the mental health impact of late payment but argued that the government must go further.

“UK SMEs don’t just need mental health support to cope with late payments. They need legislation and enforcement to stop delays in the first place,” he said. “Late payments aren’t an unavoidable fact of life; they are a failure of governance, accountability and outdated payment processes.”

Carter added that delayed payments are often driven by poor internal controls within large organisations, including fragmented procurement and finance systems, manual processes and a lack of visibility over supplier commitments. He warned that the consequences can be severe, with supply chains disrupted and smaller suppliers pushed to the brink.

Research cited by Ivalua suggests more than a third of UK businesses have seen suppliers go out of business due to cost pressures linked to late payment.

Carter urged the government to publish its response to last year’s late payment consultation without further delay, warning that continued inaction risks signalling to larger organisations that poor payment practices will be tolerated, while SMEs are left to absorb the financial and emotional strain.

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They have joined forces to launch a new not-for-profit forum designed to help shape and propel the future of the data centre sector

Leading engineering and manufacturing businesses in the North East have come together to launch a new organisation designed to propel the future of the region’s data centre sector. The North East Data Centre Hub has been founded by a consortium of five businesses, including RED Engineering Design, Cleveland Cable Company, CMP Products, Durata and RWO Associates.

Together, the firms say they share a clear ambition to help shape the sector, by collaborating on the development of a strong local engineering, construction, and digital supply chain.

The North East has been positioned as one of Europe’s largest data‑centre and AI infrastructure hubs, driven by Government policy, energy availability, and major investment, giving the North East Data Centre Hub the chance to shape local conversation and ramp up growth. A data centre is being built at Cambois, near Blyth, and another planned on Teesside.

The consortium aims to unlock the region’s full potential as a leading data centre destination. To mark its launch, the consortium will host the North East Data Centre Hub’s first networking event, which is already fully booked, on February 25 at Liberty House in Newcastle city centre.

Speaking about the North East Data Hub and its first event, John McGee, group CEO at Durata said: “The hub provides an excellent opportunity for professionals in the sector – from developers and operators through to consultants and suppliers – to collaborate, share innovation and exchange best practice. By strengthening local connections, we can amplify the North East’s contribution to the wider UK and global data centre market.

“We are delighted with the companies spearheading this initiative. Each brings extensive global experience in delivering critical infrastructure projects, and by working together – and joining forces with other local businesses – we can build a strong, resilient regional supply chain that supports long‑term growth, investment, and skills development in the North East.

“With registration already reaching full capacity for our first event, it’s clear there is strong appetite for a hub of this nature. Many delegates will be attending with a shared goal, and this is just the beginning. We have an exciting programme of events planned over the next 12 months, with much more to come from the North East Data Centre Hub.”

The North East Data Centre Hub is open to organisations across the data centre ecosystem, with plans for a programme of bi-monthly events hosted across the region, featuring speakers with the opportunity for discussion and continued networking.

Fractal Analytics on Friday said it has raised Rs 1,249 crore from anchor investors ahead of its proposed initial public offering (IPO), after allotting 1,38,69,499 equity shares to 52 anchor investors at the upper end of the price band of Rs 900 per share.

The IPO will open for public subscription on Monday, February 9, and close on Wednesday, February 11. The price band has been fixed at Rs 857 to Rs 900 per equity share of face value Rs 1 each, with a minimum bid lot of 16 equity shares.

Out of the total anchor allocation, 52,77,680 equity shares (38.05%) were allotted to 11 domestic mutual funds through a total of 22 schemes, indicating strong participation from domestic institutions.

The anchor book witnessed demand from several leading mutual funds including SBI Mutual Fund, ICICI Prudential Mutual Fund, Motilal Oswal Mutual Fund, UTI Mutual Fund, Trust Mutual Fund, Bandhan Mutual Fund, Invesco Mutual Fund, Baroda BNP Paribas Mutual Fund, and Sundaram Mutual Fund, among others.

Insurance companies that participated in the anchor round included Life Insurance Corporation of India (LIC), HDFC Life Insurance, SBI Life Insurance, Bharti AXA Life Insurance, and Edelweiss Life Insurance.

The issue also drew strong interest from global investors, including marquee long-only and institutional names such as Morgan Stanley Investment Funds and Goldman Sachs Bank Europe, along with Ashoka WhiteOak Emerging Markets Funds, Jupiter Global Fund, Societe Generale – ODI, Flumen Investment Trust, Optimix Wholesale Global Emerging Markets Share Trust, Neo Prime Fund, and Neo Secondaries Fund, among others.
Fractal Analytics describes itself as India’s first pure-play artificial intelligence company and a global provider of AI-powered analytics and decision science solutions to Fortune 500 companies, enabling enterprises to unlock business value through advanced data science, artificial intelligence and deep domain expertise.The IPO comprises a fresh issue of equity shares aggregating up to Rs 1,023 crore and an offer for sale (OFS) aggregating up to Rs 1,810 crore. The OFS is being undertaken by existing shareholders including Quinag Bidco Ltd, TPG Fett Holdings Pte., Satya Kumari Remala, Rao Venkateswara Remala, and GLM Family Trust. The issue also includes an employee reservation portion of up to Rs 600 million.

Kotak Mahindra Capital Company, Morgan Stanley India Company, Axis Capital, and Goldman Sachs (India) Securities are the book running lead managers to the offer.