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Payments Landscape

Video: The future of payments

An interview with Layah Heilpern, an independent journalist, focussing on the future of payments. Find out more about The Payments Business The Payments Business provides members with the ability to debate, share and assist, promote your business and access payments information. Find out more about The Payments Business at: https://bit.ly/3fUeePf Subscribe to Mike Chambers’ newsletter Read, subscribe and share my […]

Confirmation of Payee 0

Confirmation of Payee – final month to implement

Confirmation of Payee (CoP) is an account name checking service that the UK banks are introducing to online banking payments. The service was due to go fully live by the end of March 2020, however given that the directed banks are managing COVID-19 related risks and are working hard to protect their customers, the regulator (Payment Systems Regulator – PSR) […]

Request to Pay

Pay. UK launches Request to Pay Framework

Pay.UK have launched the Request to Pay Framework – the message standards, rules, and terms and conditions for the development of Request to Pay services. The new Framework can now be used by organisations to create the first Request to Pay propositions, set to underpin a vibrant new market of payment messaging services. “The Request to Pay Framework represents the […]

Direct Debit

Customer retention – the power of payments

A guest blog by Don Hollingum from Direct Debit 101 – visit: http://www.directdebit101.co.uk Introduction Retaining customers is an issue facing all businesses whether the products and / or services they offer are ‘essential’ or may be considered ‘discretionary’, i.e., in the case of the latter, are considered optional or are voluntary and paid for out of the customers ‘surplus’ resources. […]

Open Banking

First phase of Trilo launched today

Hamish and the team at Trilo have built a whole new way to pay, secured with Open Banking, and they’re launching their first phase today! Go check it out: get.trilo.io/p/michaejj Earn cashback whenever you pay, all in a few seconds. Merchants receive their payments in minutes for 0.2%. Join them now and get your Earlybird rewards (cashback & free transactions) Go […]

Confirmation of Payee

What if sometimes I’m Robert, Bob, Rob, Bert or Rabbie?

COOP Bank implement the new Confirmation of Payee (CoP) service Updated: 27 May 2020 What is Confirmation of Payee? Confirmation of Payee (CoP) is an account name checking service that the UK banks are introducing to online banking payments. The service was due to go fully live by the end of March 2020, however given that the directed banks are […]

Cashless

This week’s lockdown Tuesday saw a 20% uplift in ATM withdrawals

LINK, the operator of the UK’s ATM network, have just reported: “Cash is gradually coming back. The 19th May saw ATM withdrawals of £179m, the highest for a Tuesday during Lockdown and up 20% on Tuesday the 21st April” LINK I am running a Twitter poll for a newsletter piece on post pandemic cash use in the UK and would […]

Payments Landscape

Video: The future of payments

An interview with Layah Heilpern, an independent journalist, focussing on the future of payments. Find out more about The Payments Business The Payments Business provides members with the ability to debate, share and assist, promote your business and access payments information. Find out more about The Payments Business at: https://bit.ly/3fUeePf Subscribe to Mike Chambers’ newsletter Read, subscribe and share my […]

Request to Pay

Pay. UK launches Request to Pay Framework

Pay.UK have launched the Request to Pay Framework – the message standards, rules, and terms and conditions for the development of Request to Pay services. The new Framework can now be used by organisations to create the first Request to Pay propositions, set to underpin a vibrant new market of payment messaging services. “The Request to Pay Framework represents the […]

Direct Debit

Customer retention – the power of payments

A guest blog by Don Hollingum from Direct Debit 101 – visit: http://www.directdebit101.co.uk Introduction Retaining customers is an issue facing all businesses whether the products and / or services they offer are ‘essential’ or may be considered ‘discretionary’, i.e., in the case of the latter, are considered optional or are voluntary and paid for out of the customers ‘surplus’ resources. […]

Open Banking

First phase of Trilo launched today

Hamish and the team at Trilo have built a whole new way to pay, secured with Open Banking, and they’re launching their first phase today! Go check it out: get.trilo.io/p/michaejj Earn cashback whenever you pay, all in a few seconds. Merchants receive their payments in minutes for 0.2%. Join them now and get your Earlybird rewards (cashback & free transactions) Go […]

Regulatory

Next steps for digital payments in the UK

This morning, Genevieve Marjoribanks, Head of Policy at the Payment Systems Regulator delivered a speech titled ‘next steps for digital payments in the UK – innovation, inclusion, security and regulation’ at the Westminster Business eForum. A full transcript of the speech can be found at: https://www.psr.org.uk/psr-publications/speeches/Genevieve-Marjoribanks-Westminster-Business-eForum-Speech-May-2020 If you missed today’s Westminster Business Forum event Genevieve’s speech is an excellent insight into […]

Banking

Not being an ornithologist I pictured a small, weak insignificant bird perching on the branch of a small tree

There is much to thank the Midland Bank for launching ‘free in credit banking’ in the mid 1980’s but perhaps, an unintended consequence was, this act that led to all current accounts feeling the same. A range of utility current accounts from an ever decreasing number of providers offering the same vanilla banking. In early 1990 I made the most […]

Direct Debit

Time for a financial MOT?

With many of us currently stuck at home, it can be worth spending some time going through our finances to see where savings can be made. Now is the ideal time to go through our bank statements and review any payments we no longer need – great advice from Money Supermarket. A good and easy place to start is to […]

Payments Landscape

The Future of Money Post-Pandemic with Citibank

Catch the Finextra unplugged interview with Tony McLaughlin of Citi. Tony McLaughlin, Emerging Payments and Business Development, Citi, questions whether the popular opinion that the pandemic will encourage the acceleration of both Digital Transformation and the adoption of Digital Currencies. He talks to Hannah Wallace, FinextraTV about the gap between ‘Bitcoin Ideology’ and actual adoption, how China and Sweeden are […]

Regulatory

Planning for regulatory change

In its 2020/21 Annual Plan the Payments Systems Regulator (PSR) stated that it would work alongside the FCA and Bank of England to actively feed into a Future Regulatory Framework review by providing resources, feedback and expertise. Along with the Prudential Regulation Authority (PRA), the FCA and the Bank of England, the PSR are supporting Treasury-led work looking at the […]

Direct Debit

“Direct Debit 101, An Anthology” by Don Hollingum, a free download from Northey Point.

“Direct Debit 101, An Anthology” by Don Hollingum, a free download from Northey Point. With 4.5 billion payments processed each year Direct Debit is the UK’s pre-eminent collection payment method. For consumers, Direct Debit is the safest and most cost-effective method of paying regular or occasional commitments. Direct Debit is the simplest way for organisations to collect regular or occasional […]

Direct Debit

Ten post COVID19 tips to maximise your regular giving programme and increase online donations

There has been much comment about the impact of COVID19 on charitable donations and how organisations might be able to recover their donation income levels post pandemic. Just today The Daily Express reported that over 50% of people plan not to reinstate Direct Debits that they have cancelled during the lockdown period. UK Fundraising report that, following a dip in […]