Category: News

News

Retail Cyber Resilience: Lessons from the M&S Attack

Post author By user
Post date May 29, 2025

Retail Cyber Resilience: Lessons from the M&S Attack

May 29, 2025

Last month’s cyberattack on Marks & Spencer sent a clear message to the retail industry: cyber resilience is no longer a nice-to-have. It’s critical.

A ransomware incident forced M&S to suspend all online and in-app services. Systems are still down, weeks later. The estimated cost? Over $80 million. But the reputational damage and customer frustration may prove far more difficult to quantify or repair.

The attack, carried out by a group linked to Scattered Spider, exploited contractor credentials and targeted core systems. The result was one of the UK’s most trusted retailers rendered offline, without digital sales or contactless payments, in the space of hours.

At Polar Moment, we work with retailers to build secure payment infrastructure with cyber resilience at its core. Incidents like this highlight why that work matters

Retail Payments Are a Prime Target

Retail payment systems are complex, heavily integrated, and always-on: a perfect target for cybercriminals. Many merchants rely on legacy systems, connected to third parties for support, maintenance, or innovation. That creates opportunity for attackers.

In the M&S case, compromised credentials linked to a third-party supplier gave hackers a way in. It’s a scenario we’ve seen before: too much trust, too little control.

Compliance Isn’t Enough

It’s easy to assume PCI compliance means you’re safe. It doesn’t.

Compliance sets a baseline. But cyber resilience goes further: designing systems that assume compromise is inevitable and limit the damage when it happens.

This includes:

Tokenising card data so it never touches your environment
Securing third-party integrations with strict access controls
Monitoring for unusual patterns and anomalies in real time
Building failover paths, not single points of failure

Four Actions Retailers Should Take Now

1. Review your entire payments infrastructure

Map all systems, providers, and data flows
Identify weak points, outdated technology, and high-risk links

2. Limit third-party access

Apply least-privilege principles
Require multi-factor authentication and rotate credentials regularly

3. Plan for cyber resilience, not just recovery

Create fallback routes for key services like contactless and online payments
Test these under real-world failure conditions

4. Make cyber risk a business issue

Bring security out of the IT silo
Report risk exposure in the same way as availability or revenue loss

How Polar Moment Can Help

We’ve helped leading retailers and payment processors design payment systems that are not only fast and reliable, but also built to withstand disruption.

That means:

Cyber resilient architecture
Modern tokenisation strategies
End-to-end security reviews
Support across retail, unattended, and hospitality environments

If you’re rethinking your payments setup after the M&S incident, we’d be happy to talk.

Closing Thought

Cyber threats are evolving fast. Retailers need to move faster.

The organisations that invest in cyber resilience now will be the ones who keep earning customer trust — and revenue — tomorrow.

Get In Touch

At Polar Moment, we are committed to delivering payments consultancy and software development services that drive tangible business results. Whether you need strategic advice, technical implementation, or training, our team is here to help. Contact us today to discuss how we can support your business.

Polar Moment’s Payments Perspective: April 2025

Post author By user
Post date April 30, 2025

Polar Moment’s Payments Perspective: April 2025

Welcome to the April edition of Polar Moment’s Payments Perspective. This month brought a range of notable developments in the payments landscape — from contactless spending trends to the regulatory scrutiny of card networks. Here’s what stood out:

Contactless Payments Dominated UK Spending in 2024

According to Barclays, 94.6% of all eligible in-store card transactions in the UK were contactless last year — up from 93.4% in 2023. Each Brit made an average of 236 contactless payments and spent £3,803. The over-65 demographic saw the fastest growth, highlighting convenience as a key factor. For purchases above £100, chip and PIN still leads at 78%, though mobile wallets are gaining traction with Gen Z and millennials.

Read more here.

UK Tipping App Launched

thankyü, a UK startup, has introduced an app that lets customers tip hospitality workers by tapping their phones against wearable tipping bands. Tips can be left via Apple Pay, Google Pay, or direct from a bank account using open banking. The startup says the service is designed to be low-cost for venues, with funds reaching workers directly and immediately. Early adopters include small hospitality businesses and food trucks. The model has proved particularly attractive where traditional tipping is awkward or impractical.

Read the full article here.

Global Payments to Acquire Worldpay

Global Payments has announced an agreement to acquire Worldpay’s merchant acquiring business for $17.5 billion. The transaction is expected to close in Q1 2026. The deal will significantly expand Global Payments’ acquiring footprint and strengthen its position in global commerce enablement. FIS will retain a 45% ownership stake in the new joint venture, while Global Payments will take operational control.

The acquisition aims to combine Worldpay’s global merchant relationships and scale with Global Payments’ software-driven strategy. The companies expect $400 million in run-rate synergies within three years, with an emphasis on innovation and enhanced customer solutions across vertical markets.

Read more here.

Visa and Mastercard Accused of Card Monopoly by UK Watchdog

The UK’s payment systems regulator has raised concerns over Visa and Mastercard’s market dominance. The regulator found that limited competition has allowed both companies to increase fees by at least 25% since 2017 — costing UK businesses over £170 million annually. The regulator is considering measures to improve competition and reduce costs for merchants.

Read more here.

Click subscribe to receive next month's edition of Polar Moment's Payments Perspective straight to your inbox!

Get In Touch

Polar Moment’s Payments Perspective: March 2025

Post author By user
Post date March 31, 2025

Polar Moment’s Payments Perspective: March 2025

Welcome to the March edition of Polar Moment’s Payments Perspective! This month has seen significant developments in the payments industry, from strategic consolidations to regulatory uncertainties. Here’s a quick look at the key stories shaping the sector.

UK Government Reportedly Considering Plans to Scrap the Payment Systems Regulator

Reports suggest that the UK government is evaluating the dissolution of the Payment Systems Regulator. While the motivations are not yet clear, the potential move raises questions about the future of regulatory oversight and market competition in the UK’s payments landscape

Read more here.

UK’s FCA Considers Raising or Removing Contactless Payment Limits

In response to evolving consumer behaviour and inflationary pressures, the Financial Conduct Authority is contemplating adjustments to the current contactless payment limits. Possible changes include raising the cap or eliminating limits altogether to boost transaction efficiency and user convenience.

Read the full article here.

62% of Businesses Risk Missing New PCI DSS Compliance Deadline

With the updated PCI DSS compliance deadline approaching, a significant 62% of businesses remain unprepared. Non-compliance could lead to substantial financial penalties and increased security risks. Polar Moment offers PCI DSS accreditation. Please let us know if you need support with this.

Read more here.

Polar Moment’s Customer Satisfaction Survey

This month we conducted our annual customer survey. Customer satisfaction remains exceptionally high, with an average rating of 9.82 out of 10.

100% of respondents strongly agreed that Polar Moment met their requirements, provided expert advice, and communicated effectively.

Read more here.

Innopay Strengthens Oliver Wyman’s Payment Consulting Wing

In a strategic move to expand its payments consulting capabilities, Oliver Wyman has integrated Innopay, a renowned Dutch consultancy specialising in digital transactions. The acquisition aims to deepen expertise in digital identity, open banking, and data-sharing, reinforcing Oliver Wyman’s position in the payments advisory market.

Read more here.

Click subscribe to receive next month's edition of Polar Moment's Payments Perspective straight to your inbox!

Get In Touch

Customer Satisfaction Survey Results

Post author By user
Post date March 26, 2025

Customer Satisfaction Survey Results

March 2025

At a Glance

- Customer satisfaction remains exceptionally high, with an average rating of 9.82/10.

- 100% of respondents strongly agreed that Polar Moment met their requirements, provided expert advice, and communicated effectively.

- Flexibility and responsiveness were highlighted as key strengths.

Outstanding Satisfaction Scores

We sent our survey to all of our customers from 2024 and 44% of them responded. We are proud to report that our overall satisfaction score was an impressive 9.82 out of 10. Every single respondent agreed with the following statements:

Polar Moment fulfilled all requirements.
Polar Moment provided expert advice and helped in decision-making.
Polar Moment communicated effectively.
Polar Moment delivered high-quality service.
Polar Moment remained flexible to customer needs.
Would recommend Polar Moment to a friend or colleague.

These results demonstrate our unwavering commitment to customer satisfaction and excellence in service delivery.

What We Do Well

Many respondents praised the responsiveness, expertise, and hands-on support of our team. Specific mentions included:

"Really responsive team – would work with the team again!”

Annie Carter

Travelex

“Polar Moment are always a pleasure to work with. They are truly expert, decent people and highly flexible when we need them to be.”

Hewson Maxwell

Red Bee Media

“Fantastic support throughout, thank you!”

Chris Evans

Miura

We are delighted to hear that our proactive and knowledgeable approach has made a positive impact on your projects.

A Big Thank You to Our Customers

At Polar Moment, we believe that open and honest feedback is essential for continuous improvement. That’s why your feedback is invaluable in guiding our efforts to deliver even better service.

As a token of our appreciation, we donated £10 to The Pink Place for every completed survey. The Pink Place is a charity in Basingstoke providing vital support services for men and women affected by cancer. Thanks to your participation, we made a meaningful contribution to this fantastic cause.

Get In Touch

Polar Moment’s Payments Perspective: February 2025

Post author By user
Post date February 26, 2025

Polar Moment’s Payments Perspective: February 2025

Welcome to February’s edition of Polar Moment’s Payments Perspective! This month we discuss the latest developments in buy now, pay later services, travel payments, and cashless payment systems.

BNPL Adoption in the UK Continues to Grow

Finder.com has reported that the use of BNPL (buy now, pay later) services in the UK continues to expand. 13% of consumers used these services for the first time in 2024. In total, 42% of UK consumers(an estimated 22.6 million people) have used BNPL at some point.

Worldline and FreedomPay Partnership

Worldline, a global payment services provider, has formed a strategic partnership with FreedomPay to improve payment solutions within the travel and hospitality sector. The partnership will offer an omni-channel payment solution designed specifically for large hotel chains with a global presence.

Cashless Payment Systems

Earlier this month, Polar Moment published an article on cashless payment systems. Here, we explore how cashless payment systems work, their benefits, and regulatory considerations. We then discuss how gaming machine operators can successfully implement a cashless system with Game Payment Technology (GPT).

Read the full article here: Cashless Payment Systems

Click subscribe to receive next month's edition of Polar Moment's Payments Perspective straight to your inbox!

Get In Touch

Polar Moment’s Payments Perspective: January 2025

Post author By user
Post date January 30, 2025

Polar Moment’s Payments Perspective: January 2025

Welcome to January’s edition of Polar Moment’s Payments Perspective! This month we discuss the latest developments from the PSR, new appointments at Pay.UK, and GPT’s new unattended cashless solution.

Payment Systems Regulator Strategy

The PSR has outlined its two-year strategy to support competition, innovation, and growth in the UK payments sector. Building on progress since 2022, including protections against APP fraud, advances in open banking, and card fee reviews, the PSR aims to ensure secure, accessible, and innovative payment systems. Key commitments include embedding fraud reimbursement requirements, upgrading the Faster Payments system, and fostering innovation by removing barriers and collaborating with regulators, businesses, and stakeholders.

Former HSBC Executive Joins Pay.UK

Pay.UK has appointed Fiona Bradshaw as its new director of payments, a role focused on payment operations, fraud operations, and customer onboarding. With over 25 years of experience in payments and transaction banking, including leadership roles at HSBC, RBS, and the FCA, Bradshaw will work alongside the director of technology as part of Pay.UK’s chief operating office leadership team.

Unattended Cashless Solution

Game Payment Technology (GPT) has developed a cashless solution for coin-operated multi-hopper capsule vending machines. This solution was showcased earlier this month on the All Things Nice Vending stand at the EAG exhibition in partnership with Miura and Shift4. The Polar Moment-developed payment controller works alongside a Miura payment terminal, coordinating transactions across all connected vending hoppers.

Read the full article here: GPT Showcases Unattended Cashless Solution at EAG 2025.

Click subscribe to receive next month's edition of Polar Moment's Payments Perspective straight to your inbox!

Get In Touch

Polar Moment’s Payments Perspective: December 2024

Post author By user
Post date January 8, 2025

Polar Moment's Payments Perspective: December 2024

Welcome to the December edition of Polar Moment’s Payments Perspective! Let’s take a look at what happened in the world of payments last month.

British Retail Consortium Payments Survey

The British Retail Consortium (BRC) published its payments survey last month. The survey reports a rise in the use of cash for the second year in a row to 19.9% of transactions in 2023 (from 18.8% in 2022).

Debit cards remained the most common method of payment, increasing to 62.0% of transactions (66.7% by spending). Taken together with credit cards, card payments accounted for over 75% of transactions and 85% of spending.

Future Roadmap For The RTGS Service

The Bank of England has shared an update on the roadmap for their Real Time Gross Settlement service, highlighting how close engagement with users is supporting innovation in a number of key areas.

Future enhancements could include enhanced access, extended settlement hours and innovative synchronised payments. Read more here.

Revolutionising Vending Machine Payments

Polar Moment has recently partnered with All Things Nice Vending, a leading vending machine operator in the UK. Together, we’re developing a state-of-the-art payment solution for their machines, which will be placed in retailers and other outlets throughout the UK.

This innovative solution will enable seamless, cashless transactions for vending machine customers, enhancing convenience and accessibility. A demonstration system will debut at the EAG Expo, taking place next week in London.

Click subscribe to receive next month's edition of Polar Moment's Payments Perspective straight to your inbox!

Get In Touch

Polar Moment’s Payments Perspective: November 2024

Post author By user
Post date December 2, 2024

Polar Moment's Payments Perspective: November 2024

Welcome to the November edition of Polar Moment’s Payments Perspective! This month, we discuss the latest developments in the global payments landscape, from transformative government initiatives to funding milestones that will define the future of digital transactions.

Treasury Committee Investigates Cash Acceptance

The UK’s Treasury Committee is examining the challenges posed by declining cash usage. The Bank of England has raised concerns about rising infrastructure costs as cash transactions dwindle. This could cause problems for businesses and consumers who still rely on physical currency.

This investigation will explore the implications for financial inclusion, especially for vulnerable groups. It will consider policy measures to ensure continued access to cash while supporting the broader transition to digital payments. Find out more here.

National Payments Vision: a Strategic Leap for the UK

The UK government unveiled its National Payments Vision (NPV) earlier this month. This comprehensive strategy aims to revolutionise the payments landscape by fostering innovation, enhancing security, and promoting financial inclusion. The NPV outlines plans to modernise payment systems, encourage collaboration between fintech firms and traditional banks, and reduce barriers for SMEs entering the digital payments space.

Key goals include bolstering consumer confidence in emerging payment methods and reducing reliance on outdated infrastructure. As the UK positions itself as a leader in financial innovation, the NPV represents a step toward a future-proof, resilient payments ecosystem. Find out more here.

Polar Moment Expands Influence in Cashless Payments

On 19^th November 2024 Latitude 91 Ltd. (parent company of Polar Moment) announced the acquisition of full ownership of Game Payment Technology (GPT). This makes GPT a wholly owned subsidiary of Latitude 91. Polar Moment’s work with GPT has introduced groundbreaking technology that brings cashless functionality to gaming and amusement machines.

As cash use declines, the success of the Game Payment solution could serve as a model for other cash-dependent industries, such as vending, transportation, and event ticketing. A seamless transition to cashless solutions can address regulatory restrictions, improve customer experience, and secure revenue streams. Polar Moment and GPT are positioned to lead the charge in transforming cash-based industries through digital payments. Find out more here.

SIX Group Acquires Aquis Exchange

SIX Group, a Swiss stock exchange operator, has agreed to acquire Aquis Exchange, a leading UK-based capital markets firm. This acquisition will enhance SIX Group’s presence in the European trading ecosystem, integrating innovative trading solutions with its robust infrastructure.

The move reflects a trend of consolidation in financial markets as firms seek to leverage synergies and expand their global reach. For Aquis Exchange, this partnership offers an opportunity to scale its innovative trading technology across new markets. Find out more here.

Stay tuned for the next edition of Polar Moment’s Payments Perspective, which will be published slightly later than usual due to the holiday season. In the meantime, we hope this season brings you joy, relaxation, and the opportunity to reflect on a year of accomplishments. From all of us at Polar Moment, have a Merry Christmas and a prosperous New Year!

Click subscribe to receive next month's edition of Polar Moment's Payments Perspective straight to your inbox!

Get In Touch

Latitude 91 Ltd. Acquires Full Ownership of Game Payment Technology Ltd.

Post author By user
Post date November 19, 2024

Latitude 91 Ltd. Acquires Full Ownership of Game Payment Technology Ltd.

19^th November 2024

Latitude 91 is pleased to announce the acquisition of full ownership of Game Payment Technology (GPT), making GPT a wholly owned subsidiary of Latitude 91. The group also owns Polar Moment Ltd., who are experts in payments systems development and consultancy.

This strategic move further enhances the Latitude group’s ability to provide high quality payment solutions. The combined strengths of Polar Moment and GPT give us great flexibility to innovate and expand.

We understand the importance of continuity for GPT’s existing customers. Many have been partners with Game Payment from its early days. This transition will be as seamless as possible, with no disruption in service. Our commitment is to maintain the high standards of service and reliability that GPT’s customers expect, while introducing new products and services.

Tim Stratton, CEO of Latitude 91 and GPT Director:
“Acquiring full ownership of GPT is a major step for the Latitude 91 group to grow the business. We intend to really drive it forward and to rapidly introduce new products and features.”

Get In Touch

News

Polar Moment’s Payments Perspective: October 2024

Post author By user
Post date October 30, 2024

Polar Moment's Payments Perspective: October 2024

Welcome to this month’s edition of Polar Moment’s Payments Perspective. In October, we’re spotlighting innovations and industry shifts shaping the payments landscape, from major acquisitions and sustainable solutions to strengthened fraud protections. Plus, don’t miss our featured blog, where John Rozek explores the vital role payments consultants play in supporting seamless, secure transactions.

Sustainable Payments: Infineon's SECORA Pay Green Payment Card

Earlier this month, Infineon Technologies launched the SECORA Pay Green Card. As the world’s first fully recyclable contactless payment card, it is aimed at significantly reducing plastic waste and CO2 emissions in the payments industry. This innovative card combines the eco-friendly Coil-on-Module (eCoM) package, which integrates the security controller and contactless antenna, setting a new standard for card recycling.

Traditional payment cards are often difficult to recycle due to their complex layers and materials. In contrast, the SECORA Pay Green allows for the entire card body to be recycled as plastic, wood, or paper after the electronic components are removed. This design leads to over 60% savings in CO2 emissions associated with sourcing raw materials and logistics.

For more information, visit ‘Infineon Launches SECORA Pay Green Payment Card’.

Pivotal Acquires Security Plus+

We’re thrilled to highlight a recent success story from our client, Pivotal. They have just acquired Security Plus+ Ltd. (Sec Plus), a major player in secure cash management. Sec Plus provides a broad suite of services, including cash-in-transit (CVIT) secure collections, cash processing, note and coin supply, and extensive guarding services.

This acquisition doubles Pivotal’s workforce to over 1,100 employees and strengthens its position as the largest independent provider of cash management and ATM services across the UK and Ireland.

For further details, visit Pivotal acquires Security Plus+ Limited.

New Protections for APP Scam Victims

As of the 7^th of October, victims of Authorised Push Payment (APP) scams now benefit from enhanced protections under the Payment Systems Regulator’s new rules. APP scams, where fraudsters trick people into authorising a bank transfer, will now be addressed with faster and more comprehensive reimbursement.

Consumers using the UK’s Faster Payments or CHAPS systems can expect reimbursement within five business days for amounts up to £85,000, with additional claims eligible for review by the Financial Ombudsman Service.

For more information, visit ‘Groundbreaking new protections for victims of APP scams start today’.

Blog Spotlight: What Does a Payments Consultant Do?

In our latest blog post, learn what a payments consultant does and how they can optimise payments with insights from Polar Moment’s John Rozek.

From the largest multinational retailer to the smallest local shop, John explains why having a seamless, secure, and cost-effective payment system in place is vital and how payments consultancy can help.

Thank you for joining us in this edition of Polar Moment’s Payments Perspective. We look forward to bringing you more insights and updates in the coming months. If you have any questions or topics you’d like us to cover, please feel free to reach out.

Retail Cyber Resilience: Lessons from the M&S Attack

Retail Payments Are a Prime Target

Compliance Isn’t Enough

Four Actions Retailers Should Take Now

1. Review your entire payments infrastructure

2. Limit third-party access

3. Plan for cyber resilience, not just recovery

4. Make cyber risk a business issue

How Polar Moment Can Help

Closing Thought

Get In Touch

More From Polar Moment

Polar Moment’s Payments Perspective: April 2025

Contactless Payments Dominated UK Spending in 2024

UK Tipping App Launched

Global Payments to Acquire Worldpay

Visa and Mastercard Accused of Card Monopoly by UK Watchdog

Click subscribe to receive next month's edition of Polar Moment's Payments Perspective straight to your inbox!

Get In Touch

More From Polar Moment

Polar Moment’s Payments Perspective: March 2025

UK Government Reportedly Considering Plans to Scrap the Payment Systems Regulator

UK’s FCA Considers Raising or Removing Contactless Payment Limits

62% of Businesses Risk Missing New PCI DSS Compliance Deadline

Polar Moment’s Customer Satisfaction Survey

Innopay Strengthens Oliver Wyman’s Payment Consulting Wing

Click subscribe to receive next month's edition of Polar Moment's Payments Perspective straight to your inbox!

Get In Touch

More From Polar Moment

Customer Satisfaction Survey Results

At a Glance

- Customer satisfaction remains exceptionally high, with an average rating of 9.82/10.

- 100% of respondents strongly agreed that Polar Moment met their requirements, provided expert advice, and communicated effectively.

- Flexibility and responsiveness were highlighted as key strengths.

Outstanding Satisfaction Scores

What We Do Well

A Big Thank You to Our Customers

Get In Touch

More From Polar Moment

Polar Moment’s Payments Perspective: February 2025

BNPL Adoption in the UK Continues to Grow

Worldline and FreedomPay Partnership

Cashless Payment Systems

Click subscribe to receive next month's edition of Polar Moment's Payments Perspective straight to your inbox!

Get In Touch

More From Polar Moment

Polar Moment’s Payments Perspective: January 2025

Payment Systems Regulator Strategy

Former HSBC Executive Joins Pay.UK

Unattended Cashless Solution

Click subscribe to receive next month's edition of Polar Moment's Payments Perspective straight to your inbox!

Get In Touch

More From Polar Moment

Polar Moment's Payments Perspective: December 2024

British Retail Consortium Payments Survey

Future Roadmap For The RTGS Service

Revolutionising Vending Machine Payments

Click subscribe to receive next month's edition of Polar Moment's Payments Perspective straight to your inbox!

Get In Touch

More From Polar Moment

Polar Moment's Payments Perspective: November 2024

Treasury Committee Investigates Cash Acceptance

National Payments Vision: a Strategic Leap for the UK

Polar Moment Expands Influence in Cashless Payments

SIX Group Acquires Aquis Exchange

Click subscribe to receive next month's edition of Polar Moment's Payments Perspective straight to your inbox!

Get In Touch

More From Polar Moment

Latitude 91 Ltd. Acquires Full Ownership of Game Payment Technology Ltd.

Get In Touch

Polar Moment's Payments Perspective: October 2024

Sustainable Payments: Infineon's SECORA Pay Green Payment Card

Pivotal Acquires Security Plus+

New Protections for APP Scam Victims

Blog Spotlight: What Does a Payments Consultant Do?

Click subscribe to receive next month's edition of Polar Moment's Payments Perspective straight to your inbox!

Get In Touch

More From Polar Moment