With mobile money becoming increasingly important, the UK's Faster Payments Scheme has hired telecoms industry veteran Craig Tillotson as its first managing director.
Good news and an interesting choice, given Faster Payments affinity for technologically advanced channels like mobile.
Can't help noticing the ususal Finaxtra "spin" calling the Payments Council mobile project a "Pingit imitator". With all due respect to Barclays, I think the Payments Council has been working on this idea a lot longer than Barclays, but getting an industry
wide open loop service up and running is a significantly more demanding task than a one bank initiative.
As far as the "imitator" is concerned, see "Barclays: Two revolutions that never were".
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