PSR strategy for a changing world

The PSR has been consulting on a new proposed five year strategy – views were required to be submitted by the 10 September 2021 and the PSR propose to use the feedback received to finalise their strategic approach and ensure that they focus on the right outcomes and, ultimately, publish a strategy that is balanced and credible in the eyes […]

Open Banking

Monetising digital grazing

Ex-Ripple and Visa executives unveil global retail micropayments network for Web 3.0 pingNpay, a global micropayment network backed by blockchain technology, has announced that it will make its network operational next year. The start-up plans to create a new category of high frequency, low value payments (below $20 per transaction) aimed at unlocking new digital retail services which will be at […]

Request to Pay

How Request to Pay is empowering payer decisions

Before exiting the house, most of us today reach of our wallet, keys, and mobile phone. Strange to think there was life without mobile phones in the 1980’s. Stranger still, that Britain’s first mobile phone call was allegedly made across the Vodafone network on 1 January 1985 by veteran comedian Ernie Wise.  A guest blog by Ian Tomlin at Answer Pay. […]


Kids Money, just another Minecraft!

Bank accounts for kids has come up, time and time again over the years. Nigel Walsh has looked at them with interest in the past, but never had the need to make a decison – until now…. We are pleased to feature this Guest Blog by Nigel Walsh Long gone are piggy banks, the regular race around the house over […]

Open Banking

World’s first variable recurring payments hackathon

Variable Recurring Payments (VRPs) are one of the latest ideas in open banking, some say that they might rival Direct Debits.  Open Future World, Ozone and UK Finance have decided to host the world’s first open banking Hackathon, with sponsorship from Accenture, Mastercard, VOLT and Worldpay from FIS. The hackathon will focus on financial institutions can use open banking to implement variable […]

New Payment Architecture

Bacs, Faster Payments, the NPA and Specific Directions

In issue 5 of our New Payments Architecture Unpacked newsletter we shared nine takeaways from the Payment Systems Regulator’s (PSR) decision on lowering the risks to delivery of the New Payments Architecture but have you ever thought about how the PSR compels the scheme operators to act? Regulatory Tools The PSR has a number of regulatory tools including legislation, rules issued by […]

Open Banking

How Can Open Banking Make Direct Debits More Secure?

In this thought piece Nick Raper at Nuapay asks how can Open Banking make Direct Debits more secure? As well told in a previous blog by Mike here, Direct Debits first emerged back in 1968, when a Unilever employee invented a solution to the problem of collecting variable payments from thousands of ice-cream sellers. The employee, Alastair Hanton, did this by obtaining […]


Happy St. Lubbock’s Day

Bank Holidays in the UK were introduced in 1871 by banker and politician John Lubbock, the first Baron of Avebury.  As well as his banking and political activities Sir John was also a scientific writer and tried to teach his dog to read. According to Horace G. Hutchinson in the Life of Sir John Lubbock, Lord Avebury, Volume 1, his […]

Request to Pay

How Request to Pay safeguards the UK’s 24 million financially vulnerable

In an era of individualism and empowerment, how is the payments industry responding to the needs of vulnerable households? This article explores how Request to Pay balances biller priorities with consumer and small business needs. The Choice Factor In the United Kingdom today, one in six working households—or 17.4 percent— are living in poverty, 1.5 million consumers are in water poverty, over 20 million people are claiming state benefits, and […]


City Payments Tour

From the inbound CHAPS queue to CEO of the UK’s systemically important payment schemes – recollections and reflections from a career in payments (all with the City’s moto ‘my word is my bond’ intertwined).


Compare and Contrast

In this week’s Payments:Unpacked newsletter from Mike Chambers at Northey Point you’ll find: Request to Pay Vs. Open Banking It would be really interesting to do a compare and contrast of Request To Pay Vs Open Banking powered services that will do similar soon with Variable Recurring Payments… From a customer and a biller perspective. This was an observation made in […]

Confirmation of Payee

Confirmation of Payee Commitment

Banks committed to deliver Confirmation of Payee extended capability by end 2021 In response to a recent call for views from the Payment Systems Regulator (PSR), the SD10 firms (a group of the major banks: Lloyds Banking Group, Bank of Scotland, Barclays, HSBC, NatWest, Nationwide and Santander who were initially directed by the regulator to introduce Confirmation of Payee) have […]

Request to Pay

Request to Pay VS Open Banking

It would be really interesting to do a compare and contrast of RTP Vs open banking powered services that will do similar soon with VRP… From a customer and a biller perspective. This was an observation made in response by Chris Higham to a recent LinkedIn post by Mike Chambers at Answer Pay. The original post is at: So that’s exactly what we’ve done!  […]


Integrated Payment Systems – digital solutions where size no longer matters

What started with a pepperoni pizza in 1994…  Credit card usage has grown exponentially since the launch of Barclaycard in 1966 and card payments overall from the first debit card, also from Barclays, in 1987.  The move from paper vouchers to electronic processes led to greater growth in businesses offering card acceptance but entry and fixed monthly costs still meant that, […]


Swiping left on magnetic stripes

Vicki Hyman at Mastercard has been writing about the end of the magnetic stripe on our debit and credit cards: In the early age of modern credit cards, they had to write down account information for each card-carrying customer by hand. Later, they used flatbed imprinting machines to record the card information on carbon paper packets, the sound of the […]