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).
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 […]
In 1987 Barclays launched Barclays Connect, the UK’s first debit card, just nine months later the bank had issued one million cards. It didn’t take long for debit cards to reach ubiquity and by 1995 debit card volumes exceeded credit card volumes for the first time. Despite the meteoric rise in this new payments option differentiation and innovation has been […]
Pay.UK has today named David Pitt as our new Chief Executive Officer. David will assume the role on 26 July, taking over from Interim CEO Matthew Hunt who will take up the newly-created role of Chief Strategy Officer, Deputy CEO. With a strong background leading organisations through periods of transitional change, and having been instrumental in delivering a number of […]
The finalists for the 2021 EP Awards have just been announced! Find out who made the shortlist: https://bit.ly/3dWmeQn 2021 was my first year as an EP Awards judge and judging this year’s categories was exceptionally challenging. Not only did we receive a record number of entries, but the level of innovation seen within our sector in response to the pandemic over […]
In a recent Linked In piece John Bertrand welcomed the digital era but argued the case that security must be universally on a par. We are pleased to feature this guest blog by John Bertrand APP (Authorised Push Payments) and taking control of bank accounts are 54% of the £1.26 billion fraud in 2021. Given the sheer volume of scams being generated, […]
Digiseq have announced a wearables breakthrough through a mobile app that can turn any supported object embedded with an NFC chip into a contactless payment device. The firm’s Manage Mii mobile app enables ‘Rapid Contactless Personalisation’ for consumers to embed any supported object, from shirt cuffs to jewellery, with contactless payment capabilities with just a tap of their phone. The service […]
Forbes has recognised Ciaran Savage, founder and Director of UK-based Card Industry Professionals, as one of the ones to watch in Europe in their ‘Class of 2021’. Forbes have featured Ciaran in the Finance category in this year’s ‘Forbes 30 under 30 Europe’ list. Being named in such a prestigious title is a testament to the success that Ciaran and […]
On this day (22 April 2021) in 1996 Real Time Gross Settlement in CHAPS went live – join me and raise a glass to celebrate 25 years of RTGS in the UK. In this edition of Payments:Unpacked we take a look at the CHAPS payment system UK’s Real Time Gross Settlement (RTGS) system operated by the Bank of England. What is CHAPS? The […]
I’m pleased to become a judge for the 2021 Emerging Payments Awards. Submissions open next Monday – check out http://emergingpaymentsawards.org for more.
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? […]
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 […]
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 […]
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 […]
“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 […]
“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 […]