Payments:Unpacked: Recent Episodes

Payments:Unpacked

Unpack the UK’s payments landscape with Payments:Unpacked - news, analysis and insights - and occasional short podcasts from Northey Point

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From analogue to digital

The changes in the way we pay for the goods and services that we consume is no different to the digital transformation we are experiencing across all aspects of our life here in the UK.

This Payments:Unpacked podcast explores how we can choose who we pay, when we pay and how we pay in an increasingly less cash, digital society.

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City Payments Trip

In a break from the Payments:Unpacked podcast series here is a walk around the City of London reflecting on my career in payments.  

Recollections may, of course, differ but the City's 'my word is my bond' is a constant throughout.

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Unpacking Variable Recurring Payments

In this Payments:Unpacked podcast we are joined by Sean Devaney from CGI - Sean helps us unpack the new Open Banking initiative called Variable Recurring Payments (or VRP's).

Unpack Variable Recurring Payments with Sean as he explains:

  • Are VRP's the end of Open Banking?

  • What is a VRP?

  • What do the banks need to do to introduce VRP's?

  • Will VRP's be chargeable?

You'll find the Payments:Unpacked blog on VRPs here:Sweeping possibilities with Variable Recurring Payments

Don't forget to subscribe to the Payments:Unpacked podcast in your favourite podcast app (and it's be great if you could rate us as well!)

Also, make sure you subscribe to the free Payments:Unpacked newsletter at www.payments-unpacked.com

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Unpacking Confirmation of Payee

In this Payments:Unpacked podcast we are joined by Paul Simpson from SurePay - Paul helps us unpack the UK's new Confirmation of Payee (CoP) overlay service.

Unpack Confirmation of Payee with Paul as he explains:

  • Why Confirmation of Payee is so important.

  • The phased roll out process adopted by the UK.

  • Considers a non bank use case study.

  • Outlines SurePay's plans for future development of Confirmation of Payee.

  • Explains why a 'partial match' and a 'no match' are just important as a 'match'.

For more make sure you visit Sure Pay's website.

Don't forget to subscribe to the Payments:Unpacked podcast in your favourite podcast app (and it's be great if you could rate us as well!)

Also, make sure you subscribe to the free Payments:Unpacked newsletter at www.payments-unpacked.com

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

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Unpacking card payments

In this Payments:Unpacked podcast we are joined by Ciaran Savage from Card Industry Professionals - Ciaran helps us unpack card payments.

Ciaran explains: 

  • What are the noticeable shifts / trends within payments at a SME / SMB level.

  • Ciaran's view on what to expect over the next 12 - 18 months in the payments market.

  • Why is there now a need and an acceptance for digital payment tools.

  • What are the key benefits to business owners adopting digital payment tools.

Don't forget to subscribe to or follow the Payments:Unpacked podcast in your favourite podcast app (and it's be great if you could rate us as well!)

Also, make sure you subscribe to the free Payments:Unpacked newsletter at www.payments-unpacked.com

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

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ISO 20022: A single standardisation approach (methodology, process, repository) to be used by all financial standards initiatives
In this Payments:Unpacked podcast we are joined by Nancy McCaw from Org - Nancy helps us unpack the ISO 20022 message standard and explains how this global initiative will impact the UK's payment schemes.

Unpack ISO 20022 with Nancy as she explains:

  • What is ISO 20022.

  • What payments will be affected and when.

  • What changes are there in the message format.

  • What should organisations be doing now to prepare for the changes.

Don't forget to subscribe to the Payments:Unpacked podcast in your favourite podcast app (and it's be great if you could rate us as well!) 

Also, make sure you subscribe to the free Payments:Unpacked newsletter at www.payments-unpacked.com

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Back in July 2012 the then shadow chancellor Ed Balls said: “You’re more likely to be divorced than to change your bank account.”

Speaking to the BBC’s Andrew Marr, he said: “It’s very difficult to change bank accounts. People do it every 26 years. You’re more likely to be divorced than to change your bank account, and that’s partly because it’s difficult.”

In 2013 this all changed and, the now familiar, Current Account Switching Service was launched….

It was a privilege to be responsible for the ownership and operation of CASS for the first 4.5 years of its operation (about 50% of its current existence) - because finally the process of switching a current account between banks and building societies simple, reliable and stress-free.

In this podcast we explore the latest Current Account Switching Service data released by Pay.UK - covering the service itself and the winning / losing banks.

  • Blog: Current Account Switching Accelerates

  • Newsletter: Payments:Unpacked

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With analogue (cheque) payments representing just 1.5% of the total Bacs, CHAPS, Faster Payments and Image Clearing System volumes is it the right time to join the Bahamas and decide to donate the humble cheque to that vast imaginary museum - the Museum of Curiosity?

The podcast from Mike Chambers at Northey Point explores:

  • A 17th Century Alternative To Cash

  • Peak Cheque

  • A steady but profound decline

  • Just 1.5% market share

  • Our payment habits have changed

  • The content of our pockets has changed

  • The end of the cheque that never was

  • It’s not just a British thing

  • After a long and illustrious career

After a long and illustrious career let’s send the humble cheque off into retirement and let our payment habits truly reflect the digital society we live in.

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Do you find it difficult to keep up with the UK's changing payments landscape?

Our mission is to unpack the UK's changing payments landscape with the Payments:Unpacked podcast from Mike Chambers at Northey Point.

Use the links below or search "Payments:Unpacked" in Apple Podcasts, Spotify, Anchor or Overcast then listen and subscribe.

  • Spotify: https://open.spotify.com/show/2JC8f1K0lkmKoW63JnS5hD

  • Apple: https://podcasts.apple.com/gb/podcast/payments-payments-payments/id1526994791

  • Anchor: https://anchor.fm/michael-chambers3

Also, why not subscribe to Mike Chambers' free Payments:Unpacked newsletter at: www.payments-unpacked.com/subscribe

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

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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

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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

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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

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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

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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

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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.

Read, subscribe and share:

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