In this first episode of the new Payments:Unpacked podcast series (Series 1, Episode 1) we shine a light on the UK’s new bill payments overlay service – Request to Pay.
We are joined by Peter Cornforth, Commercial Director from Answer Pay – the UK’s first accredited Request to Pay provider.
Peter describes what Request to Pay is, considers the benefits to both the biller and the payer, considers how the service can support the banks mission to thwart the fraudster, explores the various use cases that Request to Pay seeks to address, compares the UK’s offering with Europe and further afield, explains why Request to Pay and Open Banking can be natural bedfellows and considers how a PSP might implement the service.
Unpacking the UK's New Payments Architecture (NPA) – Payments:Unpacked from Mike Chambers at Northey Point
In this Payments:Unpacked podcast we unpack the UK's proposed New Payments Architecture (NPA).
Let's start with a quote by KMPG:
"At its heart, the NPA aims to streamline interbank payments into a single clearing and settlement system, replacing the numerous systems in place today. Initially, Faster Payments transactions will migrate to the NPA in 2024-2025, followed by Bacs. It will be a new central infrastructure based on ISO 20022, making it the biggest shift in payment processing for a generation."
In this Payments:Unpacked podcast we talk to Paul Simpson from ACI Worldwide:
Paul says: "Although Faster Payments are not migrating until 2024-25, banks need to start preparing now for the first phase of the change: starting with self-certification in 2023. Self-certification is the process by which banks confirm to Pay.UK that they are ready for Faster Payments migration."
Contact:Paul Simpson from ACI Worldwide:
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