Episódios
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Are you ready ...... for Confirmation of Payee?
With 21 days (10 October 2024) to go Richard Koldwijn from SurePay shares his thoughts on the rapidly advancing mandatory deadline for account name check here in the UK.
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With thousands of reads each week the Payments:Unpacked newsletter is the best (free) payments read out there – to subscribe head over to: www.northeypoint.substack.com
Check out our blog:
You’ll find the best payments stories in our blog – head over to: www.northeypoint.com
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What comes after Confirmation of Payee?It’s time to start preparing for EU Verification of Payee (VoP) for mainland / EU operations.Webinar: Thu 24 Oct at 10:00 – 11:00 BSTRegster: https://events.teams.microsoft.com/event/f475caee-690d-49e7-989d-1e1ac92c8702@494d89ef-a168-4e7b-adce-67042d2380af/registrationNow that you’ve successfully implemented Confirmation of Payee (CoP) in the UK, it’s time to look ahead. If your payment services are extending into mainland Europe, the next critical step is to consider Verification of Payee (VoP).This is essential as Instant Payments become the norm across the EU.As UK Payment Service Providers (PSPs) face increasing regulatory pressures, security demands, and the challenges of fighting fraud, it’s crucial to stay ahead.In this webinar, we’ll discuss how SurePay’s Confirmation of Payee (CoP) and Verification of Payee (VoP) services are designed to help UK PSPs not only comply with legislation, but also enhance security and operational efficiency.Why attend?- Meet Regulatory Requirements: After CoP, European regulation demands Verification of Payee implementation before 9 October 2025.- Prevent Fraud: Discover how our CoP and VoP solutions significantly reduce misdirected payments and push payment fraud, with proven results like an 81% reduction in impersonation scams.- Prepare for Instant Payments: As Instant Payments become standard across Europe, we’ll explore how VoP is indispensable for UK PSPs operating in European markets.- Enhance Efficiency & Customer Trust: Understand how our solutions not only prevent fraud but also improve operational efficiency and build stronger customer trust.Who should attend?Webinar: Thu 24 Oct at 10:00 – 11:00 BSTThis webinar is designed for UK Payment Service Providers, fraud prevention specialists, compliance officers, and anyone involved in payment processing who wants to stay ahead of regulatory requirements and enhance their payment security.Register today!Register: What comes after CoP?https://events.teams.microsoft.com/event/f475caee-690d-49e7-989d-1e1ac92c8702@494d89ef-a168-4e7b-adce-67042d2380af/registration
Sign up for the free Payments:Unpacked newsletter:
With thousands of reads each week the Payments:Unpacked newsletter is the best (free) payments read out there – to subscribe head over to: www.northeypoint.substack.com
Check out our blog:
You’ll find the best payments stories in our blog – head over to: www.northeypoint.com
Follow on social:
LinkedIn: www.linkedin.com/_mike_chambers_
Twitter: www.twitter.com/_mike_chambers_
You Tube: www.youtube.com/_mike_chambers_
TikTok: @payments_unpacked
Email: [email protected]
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With eye watering levels of Authorised Push Payment fraud and the introduction of a mandatory reimbursement requirement this coming Monday (7 October 2024) now is a perfect time to get Fincrime Dynamic’s perspective on payment fraud and hear about their mission to “help build better defences against financial crime.”
Thank you to Stephen Quick for joining this podcast and exploring how a payments provider might build better defences against financial crime.
Sign up for the free Payments:Unpacked newsletter:
With thousands of reads each week the Payments:Unpacked newsletter is the best (free) payments read out there – to subscribe head over to: www.northeypoint.substack.com
Check out our blog:
You’ll find the best payments stories in our blog – head over to: www.northeypoint.com
Follow on social:
LinkedIn: www.linkedin.com/_mike_chambers_
Twitter: www.twitter.com/_mike_chambers_
You Tube: www.youtube.com/_mike_chambers_
TikTok: @payments_unpacked
Email: [email protected]
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With eye watering levels of Authorised Push Payment (APP) fraud and the introduction of a mandatory reimbursement requirement next month now is a perfect time to get Tunic Pay’s perspective on payment fraud and hear about their mission.
Tunic Pay’s landing page encourages PSPs to “stop APP fraud by joining their Intelligence Interchange - stopping fraud, managing operations, and keeping your customers experience delightful.”
Thank you to Nico Barawid for joining this podcast and explaining why the acronym “APP” should not mean All Payments Pending.
Sign up for the free Payments:Unpacked newsletter:
With thousands of reads each week the Payments:Unpacked newsletter is the best (free) payments read out there – to subscribe head over to: www.northeypoint.substack.com
Check out our blog:
You’ll find the best payments stories in our blog – head over to: www.northeypoint.com
Follow on social:
LinkedIn: www.linkedin.com/_mike_chambers_
Twitter: www.twitter.com/_mike_chambers_
You Tube: www.youtube.com/_mike_chambers_
TikTok: @payments_unpacked
Email: [email protected]
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Women in Alliances: Helping women in Partnerships, Channel, and Alliances build their careers.Annual Summit: 📅 15th October 2024, 🕑 3pm BST / 10am EST / 10pm SGT🔗 Register now: https://registration.livegroup.co.uk/wiaas/In 2020 a number of women from Alliance Best Practice decided to get together and create a group to help one another to boost their careers and global network.The group are a collection of GSI, software vendor, and not-for-profit Alliance professionals that want to network, and share and gain knowledge from one another to help women achieve the roles that reflect their true ability.Whether you currently work in an Alliance/Partnership role or aspire to do so, this dynamic online event is tailored just for you.Sign-up for free today to listen to industry titans on causal and Gen AI and partnership best practice, all whilst building your network and accelerating your career.The annual summit will be held between 3 and 5:35 PM (BST) on the 15th of October 2024 - the event is virtual and the agenda includes lots of great speakers.📅 15th October 2024, 🕑 3pm BST / 10am EST / 10pm SGT🔗 Register now: https://registration.livegroup.co.uk/wiaas/Payments:Unpacked are pleased to be a sponsor of the 2024 Women in Alliances Annual Summit
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From the first recorded use of cash in Lydia (640BC) via banknotes causing excessive inflation in China (AD806) and a jailed Swedish banker (1600's) we arrive at the UK's first handwritten cheque in 1659.
For 300 years nothing else happened in payments until 30 years (starting 1960) focused on making cheque better and 30 years (starting 1990) of putting in pace the building blocks for the digital landscape we now enjoy.
In this edition of Payments:Unpacked we consider three key challenges - the future of our payment rails, the future of payment collections and payment fraud.
Don't forget to take part in our poll: Are you a Bazalgette, a Chadwick or a Bazelwick?
Host: Mike Chambers
Get early access to new episodes and full access to the podcast archive. Subscribe before the 31 August 2024 and you'll also receive twelve months subscription to the Payments:Unpacked newsletter (worth £60).
To subscribe head over to: https://podcasters.spotify.com/pod/show/michael-chambers3/subscribe
Sign up for the free Payments:Unpacked newsletter: With thousands of reads each week the Payments:Unpacked newsletter is the best (free) payments read out there – to subscribe head over to: www.northeypoint.substack.com
Check out our blog: You’ll find the best payments stories in our blog – head over to: www.northeypoint.com
Follow on social:
LinkedIn: www.linkedin.com/_mike_chambers_ Twitter: www.twitter.com/_mike_chambers_ You Tube: www.youtube.com/_mike_chambers_ TikTok: @payments_unpacked Email: [email protected] -
From the first payment priorities for an incoming government, the future of cheques, the next steps for open banking and what to look for in a payment aggregator Izzy and Spencer ask Mike (payment) questions.
Host: Mike Chambers
Guest(s): Izzy and Spencer
Get early access to new episodes and full access to the podcast archive. Subscribe before the 31 August 2024 and you'll also receive twelve months subscription to the Payments:Unpacked newsletter (worth £60).
To subscribe head over to: https://podcasters.spotify.com/pod/show/michael-chambers3/subscribe
Sign up for the free Payments:Unpacked newsletter: With thousands of reads each week the Payments:Unpacked newsletter is the best (free) payments read out there – to subscribe head over to: www.northeypoint.substack.com
Check out our blog: You’ll find the best payments stories in our blog – head over to: www.northeypoint.com
Follow on social:
LinkedIn: www.linkedin.com/_mike_chambers_ Twitter: www.twitter.com/_mike_chambers_ You Tube: www.youtube.com/_mike_chambers_ TikTok: @payments_unpacked Email: [email protected] -
In a month of political change, you've probably been getting your payments fix from The Rest Is Politics with Alastair Campbell and Rory Stewart.
And with a new Premier Football season around the corner, you'll probably will be getting your football fix from The Rest Is Football with Gary Lineker and friends.
Well, here's where you can get your payments fix.
Host: Mike Chambers
Support future podcasts from Payments:Unpacked with a subscription:
Get early access to new episodes and full access to the podcast archive. Subscribe before the 31 August 2024 and you'll also receive twelve months subscription to the Payments:Unpacked newsletter (worth £60).
To subscribe head over to: https://podcasters.spotify.com/pod/show/michael-chambers3/subscribe
Sign up for the free Payments:Unpacked newsletter:
With thousands of reads each week the Payments:Unpacked newsletter is the best (free) payments read out there – to subscribe head over to: www.northeypoint.substack.com
Check out our blog:
You’ll find the best payments stories in our blog – head over to: www.northeypoint.com
Follow on social:
LinkedIn: www.linkedin.com/_mike_chambers_
Twitter: www.twitter.com/_mike_chambers_
You Tube: www.youtube.com/_mike_chambers_
TikTok: @payments_unpacked
Email: [email protected]
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Before 2008 payments were a real pain - this all changed when Faster Payments entered our lives.
Faster Payments has transformed who we pay, how we pay and when we pay - socks, last nights pizza and household appliances can now be bought within seconds via a smartphone.
Remembering a time when payments could take days is like trying to recall what it was like to travel via a house and carriage.
Join Mike Chambers for a Payments:Unpacked briefing and find out how we avoided the distraction of Elle and found a new way to pay.
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While ISO 20022 is not new, it will soon become the de facto standard for sending financial messages between financial institutions and businesses.
The drive and industry development behind upgrading payment infrastructures, instant payments and cross-border payment capabilities make adopting ISO20022 paramount in its importance and urgency.
With such a transformational undertaking right at the heart of SWIFT we are pleased to be joined by two ISO 20022 experts from Bottomline - Zhenya Winter and Fred Viard - to discuss “Going ISO 20022 Native.”
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From coins in 64BC, Knights Templar in the 1100’s to Reg Varney in 1967 it’s been a long journey for payments. In this episode we look at how a period of 300 years when ‘nothing’ happened in banking and payments was followed by 30 years of analogue innovation and 30 years of digital transformation which has fuelled our current payments age.
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Mike Chambers discusses investing in Answer Pay and capitalising on Request to Pay with Peter Cornforth and Ralf Ohlhausen.
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Simple, reliable and stress-free
The subject of this special anniversary podcast shares its special day with:
The Mayflower setting sail for America in 1620.
The introduction of First Class stamps by the Royal Mail in 1968.
The UK government suspending Britain’s membership of the European Exchange Rate Mechanism in 1992.
All of these events happened on the 16th of September.
The 16th September 2023 is also a special day for me and all banking and payment geeks and to celebrate this special anniversary podcast we are joined by John Dentry from Pay.UK.
If you haven’t already guessed it then in this podcast we are celebrating the 10th Anniversary of the UK’s Current Account Switching Service (CASS).
With its promise to offer a simple, reliable and stress free switch to a new banking current account provider the UK was the first country in the world to offer a guaranteed seven day bank account switch.
With over 9.5million switches competed, over 140 million payments redirected from an old account to a new account, a 91% user satisfaction rating and (perhaps remarkably for banking and payments) 86% of users happy to recommend the service to a friend I think we can call the UK’s switching service a success!
You might ask why I’m so excited about CASS, well we all remember where we were for certain events - tragic events like 9/11, a certain football match or the birth of a child.
Well, on the 16 September 2013 I found myself in a “war room” watching the world’s first current account switching service go live – it went so well the “war room” was a very calm and quiet room.
Why was I in that room? At the time I was the CEO of Bacs, CASS’s first operator and was the custodian of the service for the first 5 years - that’s why this podcast feels very personal!
Congratulations on the 10th Anniversary of account switching in the UK to John Dentry and the team at Pay.UK.
CASS holds a special place in my heart and made a significant mark on my career.
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Rowenna is sharing her story about how she (nearly) got scammed in the hope that it might help others and to assuage her “total embarrassment by doing something positive”.
UK Finance report that in 2022, criminals stole a total of £1.2billion through authorised and unauthorised fraud and scams.
During 2022 criminals have continued to focus activity mainly on socially engineering their victims, usually with the intention of tricking them into authorising a payment to an account within their control (known as Authorised Push Payment (APP) Fraud).
The tactics that criminals use include scam phone calls, text messages and emails, as well as fake websites and social media posts. Their aim is to trick people into handing over personal details and passwords. This information is then used to target victims and convince them to authorise payments.
Rowenna Fielding writes about data protection, ePrivacy and data ethics - you’ll find her blog here: MissIGGeek - and this is Rowenna’s story about how she (nearly) got scammed.
This is Rowenna’s story……..
Make sure you subscribe to the Payments:Unpacked podcast with your favourite podcast app or via Spotify.
Unpack the UK's payments landscape with my newsletter - subscribe at: www.payments-unpacked.com
Thank you to Rowenna for sharing your story - find out more about Rowenna on Linked In at: https://www.linkedin.com/in/missiggeek/ or via her website: https://missinfogeek.net
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Making it easy to issue and pay bills - when you want, how you want.
Request to Pay (RtP) is a messaging ecosystem that provides the necessary interconnecting communications required to make secure payment requests possible.
It allows billers to initiate a payment request, and enables customers to choose when and how they pay.
RTP can be overlaid on top of existing infrastructure, saving you costs and increasing ROI. By connecting to RTP through Answer Pay, banks and other payment service providers can refocus their resources on building differentiated customer experiences in their apps.
Join us as we hear Peter Cornforth from Answer Pay unpack Request to Pay.
Make sure you subscribe to the Payments:Unpacked podcast with your favourite podcast app or via Spotify.
Unpack the UK's payments landscape with my newsletter - subscribe at: www.payments-unpacked.com
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Has the penny had its day?
"In terms of the coins in your pocket, it's useless" - the National Consumer Council 1983 talking about the half penny coin in the 1980's.
Like many of us over a number of years I had accumulated a bag full of Euro denominated coins so last week I took the opportunity of repatriating my bag full of Euro Cents by feeding a number of car park ticket machines along Germany’s Baltic Coast.
As I “fed” the machines with these small strange coins I wondered whether the UK’s “penny” might have also had its day. Just 13 years after 1971’s Decimalisation the National Consumer Council stated that the half (new) penny was “useless” - now some 52 years after Decimalisation do we need to ask whether the one, two, and perhaps even the five pence pieces have also had their day?
Last month a consultation was launched on the Isle of Man (IOM) on whether low value coins should be removed from circulation and how this could lead to the introduction of a rounding system for all cash transactions.
Just 13 years after 1971’s Decimalisation the UK’s National Consumer Council stated that the half (new) penny was “useless” and some 52 years after Decimalisation do we need to ask whether the one, two, and perhaps the five pence pieces have also had their day?
Make sure you subscribe to the Payments:Unpacked podcast with your favourite podcast app or via Spotify.
Unpack the UK's payments landscape with my newsletter - subscribe at: www.payments-unpacked.com
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A moment of decision is a noun defined as: A climactic, decisive or critical moment in an event or period.
With the Payment Systems Regulator (PSR) stating in its recently published 2023/24 plan that it is keen to see progress on delivery “without further delay” and the potential for the white smoke of a vendor decision in the coming weeks it really is a moment of decision for the New Payment Architecture or NPA.
A key element of the PSR’s latest work programme is the proposed New Payments Architecture (NPA).
As we approach the end of the first third of 2023 it is clear that we have reached a climactic, decisive and critical moment for the NPA.
The PSR's recently published annual plan does provide some helpful insights into the regulatory focus into the NPA that we can expect to see over the coming 12 months.
Make sure you subscribe to the Payments:Unpacked podcast with your favourite podcast app or via Spotify.
Unpack the UK's payments landscape with my newsletter - subscribe at: www.payments-unpacked.com
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Teresa Connors from Payment Matters joins us for our latest Payments:Unpacked video.
In this episode Teresa unpacks the topic of Consumer Duty.
Helpfully, Teresa provides this introduction:
We’re at an inflexion point, as firms are becoming aware / coming out of denial / realising it’s not just a compliance thing and tackling the enormity of the task to embed and prove embedment of the FCA Consumer Duty. The FCA suggests that at this stage, firms should be 80% through implementation, while some firms are making tangible progress, many firms are not as advanced as they would like to be in readiness for the on sale product deadline of 31 July this year.
Crucially, discussion and activity are turning from “why” to “how” as firms create and implement plans to prove that customers are at the heart of their business, demonstrating that they meet the Consumer Duty cross cutting principles of:
• Acting in good faith
• Avoiding foreseeable harm
• Enabling and supporting retail customers to pursue their financial objectives.
Make sure you subscribe to the Payments:Unpacked podcast with your favourite podcast app or via Spotify.
Unpack the UK's payments landscape with my newsletter - subscribe at: www.payments-unpacked.com
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Lee McNabb from NatWest joins us for our latest Payments:Unpacked video podcast.
In this episode Lee unpacks:
The current state of play of A2A payments and explores what expectations we should place on the future expansion of this new payment mechanism. Why the New Payments Architecture (NPA) is important to the future of payments for NatWest (and the wider market). What innovative features can we expect at the launch to the NPA and over the longer term. How A2A payments and the NPA link together to drive innovation and competition in payments. How can and should banks protect their customers and how can people protect themselves when making a payment.Make sure you subscribe to the Payments:Unpacked podcast with your favourite podcast app or via Spotify.
Unpack the UK's payments landscape with my newsletter - subscribe at: www.payments-unpacked.com
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Nick Davey from the Payment Systems Regulator joins us for our latest Payments:Unpacked video podcast.
In this podcast Nick answers questions that have been asked by readers of the Payments:Unpacked newsletter and Mike’s Linked In connections.
Hear Nick’s answers to:
· What are the biggest near-term challenges for New Payments Architecture? Teresa Connors, Payment Matters
· During the pandemic a number of banks introduced measures such as mortgage holidays to help people cope with the extraordinary circumstances they found themselves in. Given the impact of the cost of living crisis and recent surveys highlighting customer frustrations with banking support, will the regulators consider intervening to ensure the necessary payment flexibility? Peter Cornforth, Answer Pay
· How big is the risk of a catastrophic payments hack by a bad actor supported by quantum computers, and how can that risk be minimised ? John Wisbey, Entrepreneur and Innovator
· Will you please take a close look at ‘pay by link’ (initiating a payment or payment request via SMS or Email) and either legislate against it, or insist of additional measures to protect against APP scams initiated through ‘pay by link’. Ideally, perhaps you should outlaw it AND tell the banks to adopt Pay.UK’s much more secure request to pay messaging scheme. Chris Vincent, Exela Technologies
· Who are the influential stakeholders in the fraud chain? Teresa explains that harm is in play before the payment journey is made, what discussion / progress is being made in combining preventative effort with other non FI stakeholders? Teresa Connors, Payment Matters
· Why do the PSR only recruit in London? Stephen Moore
· Supported by Chris Higham: “Seconded! Forward thinking financial institutions are tapping into the talent across the country (as indeed are government departments) - it feels like the regulators should be taking advantage as well
Make sure you subscribe to the Payments:Unpacked podcast with your favourite podcast app or via Spotify.
Unpack the UK's payments landscape with my newsletter - subscribe at: www.payments-unpacked.com
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