Digital solutions where size no longer matters

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, until relatively recently,... Continue Reading →

Don’t miss a trick

As Black Friday approaches, HSBC has enlisted magician Troy von Scheibner to show Brits how fraudsters play mind games designed to gain victims' trust and pressure them into handing over personal information. Don't miss a trick Purchase scams - where fraudsters trick shoppers into paying in advance for goods or services that are never received... Continue Reading →

Connecting the future

The Emerging Payments Association announced its rebrand to The Payments Association during the EP Awards ceremony on the 6th October, with the name change taking effect throughout the month. The association has seen significant growth over the past few years and has increased its volume of members by 20% in the last year alone, welcoming names such... Continue Reading →

Growing digital payments

Join me on Wednesday 6th October at 11am at Access All Areas, The Access Group’s virtual event next week, where I’ll be talking through how the pandemic has accelerated digital and how to optimise your payments for this new landscape and grow your revenue.  Sign up here: https://dash.hubilo.com/#/event/6506/1541651/session/78936/basic-details

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... Continue Reading →

Dot and Notch debit cards

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. Source: Barclays Despite the meteoric rise in this new... Continue Reading →

Pay.UK announces new CEO

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... Continue Reading →

Pairing chip cards to a wearable with a phone tap

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... Continue Reading →

Celebrating 25 Years of RTGS in the UK

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... Continue Reading →

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... Continue Reading →

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... Continue Reading →

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... Continue Reading →

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... Continue Reading →

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... Continue Reading →

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... Continue Reading →

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... Continue Reading →

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... Continue Reading →

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 -... Continue Reading →

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... Continue Reading →

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... Continue Reading →

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... Continue Reading →

What do clients and kids have in common?

The planet found itself gripped by a virus that knows no boundaries, democratic nations wilfully complied with imprisoning STAY AT HOME pleas, and ordinarily over crowded bustling cities were brought to a peaceful but eerie standstill.  Even as we seem to be easing out of the crisis, what are small businesses most worried about whilst... Continue Reading →

EPA launches fintech recovery programme

The Emerging Payments Association (EPA), which celebrates collaboration and innovation across the emerging payments industry, has launched Project Recovery to help the UK FinTech make informed decisions and equip them to survive in the post pandemic world. The FinTech sector has a key role to play in the UK’s economic recovery and so the aim... Continue Reading →

Reviewing the payments mix

Introduction Cashflow remains the lifeblood of any business organisation and getting the monies in on time and with minimum fuss and effort can be critical to viability and profitability. Whilst the payment method, or perhaps more appropriately payment methods, have to work for the recipient organisation (the payee), they have to be effective and appealing... Continue Reading →

Direct Debit 101: Validation and Verification

A guest blog by Don Hollingum from Direct Debit 101. For more information visit: www.directdebit101.co.uk Why use Direct Debit? Direct Debit, the product, 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... Continue Reading →

The future of cash post COVID-19

Moving the "UK Fintech Week 2020" to an online format was a smart move - especially as it meant that I could join the excellent 'The Future of Cash Post COVID-19" webinar moderated by Natalie Ceeney and supported by Graham Mott and John Howells from LINK (the operator of the UK's ATM network) - all... Continue Reading →

Ventriloquist consultants

I don’t know much about politics in Northern Ireland and I know even less about the Renewable Heat Incentive (RHI) but after just 30 pages in it looks like Sam McBride’s Burned is going to be an engaging read. As a payments consultant a sentence written by Sam certainly made me think: The image ....... Continue Reading →

PAYTECH: Payment technology handbook

Out January 2020! Pre-order on Amazon The PAYTECH Book is the payment technology handbook for investors, entrepreneurs and finance visionaries. Get up to speed on the latest industry developments, grasp the market dynamics of the ‘fintech revolution’, realize the sector’s potential, and gain expert insight on investment and entrepreneurial opportunities. The PAYTECH Book is the... Continue Reading →

MLROs.com Conference One 2020 – Keynote Speaker

BDO LLP, London | Wednesday 22nd January 2020 MLROs.com first industry conferences for 2020.  MLROs.com conferences are always a great value, full-day event, packed with major topical issues and expert speakers. The conference will provide delegates with the information to enhance the scope and depth of their knowledge across a broad range of subjects, as... Continue Reading →

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