Focussed on the changing payments landscape in the UK, using social media to share payment insights. Previously Bacs’ CEO. http://www.northeypoint.co.uk
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 […]
An informed insight on all things payments – news, pointers and always a longer read to stimulate a conversation – all delivered right to your inbox from Northey Point. Don’t miss out, subscribe now!
Pay.UK have just published the monthly Current Account Switch Service data for April 2020. The Current Account Switch Service (CASS) has completed 6.6 million switches since launching in 2013, 280,520 of which took place between January and March 2020. Despite the impact of COVID19, March saw the third highest number of Current Account Switches since the CASS service was launched […]
Today, 5 May 2020, Tony Craddock from the Emerging Payments Association shared news on the launch of Project Recovery / Reboot. On behalf of Eazy Collect I am pleased to lead this new group. Tony describes the purpose of the EPA’s Project Recovery / Reboot as a new working group, led by Mike Chambers of Eazy Collect and mentored by […]
Informed payment insights straight to your inbox The ‘Payments, Payments, Payments’ newsletter features informed insights into the UK’s payments landscape – news, pointers and longer reads – all delivered right to your inbox from Mike Chambers at Northey Point. Subscribe to get full access to the newsletter and website. Never miss an update. Stay up-to-date The ‘Payments, Payments, Payments’ newsletter […]
A guest blog by Don Hollingum from Direct Debit 101. For more information visit: www.directdebit101.co.uk Why use Direct Debit? 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 of payments collected – in […]
A new study has highlighted Europe’s leading cashless economies. Retail Times report that a new study by Merchant Machine has analysed Europe’s leading cashless economies. The study highlights the countries where citizens would like to go completely cashless the most and who uses contactless payments the most. COVID19 changes everything Given the study was pre-lockdown it is likely that the […]
