Focussed on the changing payments landscape in the UK, using social media to share payment insights. Previously Bacs’ CEO. http://www.northeypoint.co.uk
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 (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) […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
A guest blog by Don Hollingum from Direct Debit 101. For more information visit: http://www.directdebit101.co.uk Introduction As has been highlighted in previous articles Direct Debit has been working for thousands of businesses, both large and small for over 50 years, and its usage continues to grow both in terms of the number of organisations that use it and the number […]
“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 […]
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 […]
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