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Category: Payments

Payments

Radical Transparency

Transferwise suggest that that the old, traditional banks don’t fare so well when it comes to price. But customers now have far better alternatives — fintechs, challenger banks and digital providers — who are setting far better standards for international transfers.  Transferwise ask whether these new dogs are up to old tricks when it comes to being transparent with their pricing? […]

Payments

Prepaid cards tackling food poverty

A joint initiative that transformed the tackling of food poverty in Scotland takes top national award. The Scottish Government has replaced the old UK Government voucher scheme in Scotland with prepaid cards in tackling food poverty and has been saluted as Social Inclusion Project of the Year at the 2020 Payments Awards. It’s a win that recognises the work of top FinTech allpay and […]

Payments

Moving online for better control of your finances

Almost two-thirds (62 per cent) of UK citizens say they are in “better control” of their money now than before COVID, according to research. Global software consultancy ThoughtWorks commissioned research among over 2,000 UK adults about how technology had changed their banking habits during the pandemic. Almost one-in-three people (31 per cent) said they don’t use cash any more, and 22 per […]

Payments

Invitation: Emerging Payments Awards

Join us for an afternoon of entertainment and a week’s networking at the virtual Emerging Payments Awards on the 26th of November.  It’s free to attend for anyone in the payments industry and all registrants are entered into a prize draw to win one of 100 £50 reward vouchers, courtesy of our partner Banking Circle. Organised by the Emerging Payments Association, the #EPAwards […]

Payments

For sale: baby shoes, never worn

“For sale: baby shoes, never worn.” is the entirety of what has been described as a six-word story, making it an extreme example of what is called flash fiction or sudden fiction.  Although it is often attributed to Ernest Hemingway, the link to him is unsubstantiated and similar stories predate him. Last week subscribers of my Payments, Payments, Payments newsletter were invited to take […]

Payments

Flash fiction competition

“For sale: baby shoes, never worn.” is the entirety of what has been described as a six-word story, making it an extreme example of what is called flash fiction or sudden fiction. Although it is often attributed to Ernest Hemingway, the link to him is unsubstantiated and similar stories predate him. How would you explain “digital payments” in six words? Two […]

Payments

Blank credit cards

Garanti BBVA has begun issuing a rewards-based credit card that stores credit card numbers, expiration dates and CVV codes on a separate mobile app, rather than on the physical card itself. Customers of the Turkish bank can already apply for the new Bonus Diji card digitally and have it approved in a matter of minutes without the need for a […]

Payments

Pause for Payments with Kristy

In the latest episode of Pause for Payments, Kristy Duncan is joined by Liz Oakes, Executive Vice President, Strategy & Operations Banking, Mastercard for a discussion on the future of money – especially in the context of our new normal. Liz explains how people are making payments in the new normal and our recent adoption of contactless. Read, subscribe and […]

Payments

In Brief

In brief items from this weeks Payments, Payments, Payments newsletter: On the last day of September and LINK reported an ATM peak of 6,349 transactions in one minute but what’s happening to ATM withdrawals following the digital payment habits we formed during COVID? Second premium account from Monzo? You had to read Starling Bank’s #reachingout Tweet very carefully – a few people were caught […]

Payments

Paym: the UK’s mobile payment system

Pay.UK contacted us a few days ago to provide updated figures for Paym: the UK’s mobile payment system so we’ve updated our Paym briefing: Paym: the UK’s mobile payment system. Paym is a mobile payment system operated by Pay.UK and offered by the majority of the UK’s banks and building societies. Recipients are identified by their mobile phone number rather than […]

Payments

Mark Hoban appointed Chair of Pay.UK

Pay.UK, the UK retail payment systems operator, have announced the appointment of Mark Hoban as the new Independent Non-Executive Chair of its Board of Directors. Mark brings a wealth of experience in both public and private sectors, with a strong background in financial and regulatory arenas. Following a career in politics as Member of Parliament for Fareham where he held […]

Payments

Ever wondered what happens when you use a credit or debit card?

The UK’s Payment Systems Regulator (PSR) have just published an infographic with a simplified picture of what happens during a consumer debit or credit card transaction (except for American Express cards) where a transaction is authorised. Check out the PSR’s infographic: Payment Systems Regulator infographic: What happens when you use a credit or debit card? Read, subscribe and share This blog […]

Payments

The disruption caused by Covid-19 means that fintech’s time has come

Far from being the end of fintech, this the moment where financial innovation and disruption assumes centre stage says Natalie Ceeney. …it’s clear that the pandemic is accelerating the need for financial innovation and disruption. There can be no debate that the future is more digital. For every bank, insurer, mortgage lender or payments enabler, a priority is how to […]

Payments

Education: the secret ‘sauce’

Creative use of branch window space by Barclays, helping their customers navigate their mobile banking app. Picture: Mark O’Keefe This helpful piece of customer education reminded me of a piece I wrote a few months ago about education being the secret ‘sauce’ for the successful implementation of payments regulation…. Education: the secret ‘sauce’ for the successful implementation of payments regulation It’s 1997 […]