Payments:Unpacked

In this edition of the Payments:Unpacked podcast we shine a light on the UK's new bill payments overlay service - Request to Pay. 

We are joined by Peter Cornforth, Commercial Director from Answer Pay - the UK's first accredited Request to Pay provider.

Peter describes what Request to Pay is, considered the benefits to both the biller and the payer, considers how the service can support the UK's mission to thwart the fraudster, explores the various use cases that request to Pay seeks to address, compares the UK's offering with Europe and further afield, explains why Request to Pay and Open Banking can be natural bedfellows and considers how a PSP might implement the service.

Subscribe to the Payments:Unpacked podcast in your favourite podcast app and remember to subscribe to Mike Chambers' Payments:Unpacked newsletter at: www.payments-unpacked.com/subscribe 

Get full access to Payments:Unpacked at northeypoint.substack.com/subscribe

Welcome to issue 139 of Payments:Unpacked, get to grips with the UK’s retail payments landscape with Mike Chambers - exclusive payment insights, hot topic briefings and fundamentals unpacked.

Podcast: Request to Pay: Lead or Lag?

In this podcast we consider Request to Pay from the perspective of a Payment Service Provider (PSP). As Request to Pay gains traction here in the UK should PSP’s adopt a lead or lag strategy?

This thought piece was originally delivered by Mike Chambers at the Answer Pay webinar “Request to Pay: Lead or Lag? on the 22 June 2021.

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The Payments:Unpacked newsletter and podcasts from Mike Chambers at Northey Point explore a wide range of the UK’s payment news including: Open Banking, Request to Pay, Direct Debit, Confirmation of Payee, Bacs, CHAPS, Faster Payments, LINK, cash, cards, cheques and Central Bank Digital Currencies (CBDCs) and unpacks the eco-system that supports the operation of these systemically important payment systems.

The newsletter and podcasts are an independent and informed insight into the UK’s payments landscape – exclusive payment insights, hot topic briefings and fundamentals unpacked.

Get full access to Payments:Unpacked at northeypoint.substack.com/subscribe

Welcome to issue 132 of Payments:Unpacked, get to grips with the UK’s retail payments landscape with Mike Chambers - exclusive payment insights, hot topic briefings and fundamentals unpacked.

Have digital options even replaced the petty cash tin?

In this podcast we consider whether digital options have even replaced the petty cash tin.
Any glance at any payment statistic, from Faster Payments to contactless, to click and collect and to the growing global trend of Request to Pay, would suggest that cash no longer has a place in any business in this mid-pandemic 2021 digital world.
With all the digital possibilities, why would any business still need to pay anything in cash and why would they still be accepting payments by way of cash?   

Read, subscribe and share

The Payments:Unpacked newsletter and podcasts from Mike Chambers at Northey Point explore a wide range of the UK’s payment news including: Open Banking, Request to Pay, Direct Debit, Confirmation of Payee, Bacs, CHAPS, Faster Payments, LINK, cash, cards, cheques and Central Bank Digital Currencies (CBDCs) and unpacks the eco-system that supports the operation of these systemically important payment systems.

The newsletter and podcasts are an independent and informed insight into the UK’s payments landscape – exclusive payment insights, hot topic briefings and fundamentals unpacked.

Get full access to Payments:Unpacked at northeypoint.substack.com/subscribe

Welcome to issue 124 of Payments:Unpacked, this premium subscriber edition features a podcast “Confirmation of Payee: Safer payments need service ubiquity”.

Introduction

UK Finance report that the industry prevented £1.6 billion of fraud in 2020. It achieved this through sophisticated detection systems, initiatives like Confirmation of Payee and warnings at the point where the customer is about to make a payment. 

Despite this, in 2020 we saw total fraud as reported by UK Finance members reach just over £1.26 billion. While we have seen figures for what we might call traditional fraud such as card and cheque fraud fall, we have seen increases in remote banking fraud and cases of authorised push payment (APP) fraud.

For the benefit of the PSP’s, to protect the payer and to thwart the fraudster surely Confirmation of Payee service ubiquity should be mandated by the regulator and not be left as an optional extra?

Read, subscribe and share

The Payments:Unpacked newsletter and podcasts from Mike Chambers at Northey Point explore a wide range of the UK’s payment news including: Open Banking, Request to Pay, Direct Debit, Confirmation of Payee, Bacs, CHAPS, Faster Payments, LINK, cash, cards, cheques and Central Bank Digital Currencies (CBDCs) and unpacks the eco-system that supports the operation of these systemically important payment systems.

Thanks

Mike

Get full access to Payments:Unpacked at northeypoint.substack.com/subscribe

Welcome to issue 118 of Payments:Unpacked, get to grips with the UK’s retail payments landscape with Mike Chambers - exclusive payment insights, hot topic briefings and fundamentals unpacked.

In this podcast edition we consider the impact of COVID on payments.

Read, subscribe and share

The Payments:Unpacked newsletter and podcasts from Mike Chambers at Northey Point explore a wide range of the UK’s payment news including: Open Banking, Request to Pay, Direct Debit, Confirmation of Payee, Bacs, CHAPS, Faster Payments, LINK, cash, cards, cheques and Central Bank Digital Currencies (CBDCs) and unpacks the eco-system that supports the operation of these systemically important payment systems.

The newsletter and podcasts are an independent and informed insight into the UK’s payments landscape – exclusive payment insights, hot topic briefings and fundamentals unpacked.

Thanks

Mike

Get full access to Payments:Unpacked at northeypoint.substack.com/subscribe

A Payments, Payments, Payments podcast from Mike Chambers at Northey Point

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Micro podcast: COVID19 impact on Current Account Switches

In a 90 second micro podcast we explore Pay.UK’s first insight into how the COVID19 pandemic has impacted the number of people choosing to switch their bank account.

For more:

Blog: Current account switches fall as social distancing measures introduced.

Web: Pay.UK: Current Account Switching Dashboard.

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Get full access to Payments:Unpacked at northeypoint.substack.com/subscribe