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Eric's blog archive

2013 (8)
Eric Smith

Eric Smith

Senior Pre-Sales Consultant at Dynamic Partners
Message Message me Posts: 8 Comments: 13
Bio A payments specialist with over 20 years experience in card payments and banking. Have a strong background in project management and the delivery of complex payments and banking solutions internationally. Have experience across the entire payments chain, having worked for a card scheme, a Bank, as w



Everyone's a winner - The benefits of loyalty rewards

02 Sep 2013

Companies across an array of industries, whether they be hospitality, retail or financial services, offer loyalty rewards to their consumers. When one thinks about loyalty schemes, the idea of retail outlets offering bonus points to their customers is the first thing that comes to mind, especially with the likes of Starbucks and Nando's recently r...



The death of cash - simply an urban myth?

21 Aug 2013

As innovative payment technologies hit the market, like the PayPal 'check in' service that launched in London this month, it seems that coins and notes are becoming less important. As countries like Sweden appeal for a 'cashless society' and physical cash continues to cost economies vast amounts annually, one needs to ask if cash really will die o...



The extinction of ATM and POS?

10 Jul 2013

I attended a course some months back about developing a mobile proposition. It was suggested that with the growth of mobile payments and banking, the importance of existing “older” channels would decline. Whilst in terms of sheer numbers, that may be true, this shouldn’t be read to mean that channels such as ATM and POS will disappear - far from it...


Are we losing the war on cash?

10 Jun 2013

The latest news from the UK Payments Council, especially on the back of the recent study by Market Platform Dynamics shows that the use of cash is greater than ever, despite the plethora of electronic and mobile alternatives. For those outside the payments industry, the true cost of cash is invisible – they think it’s ‘free’, But actually, physical...


Eric is Commenting on

Let's call it PayOff

  Jane, I too had a good look over the paper. I feel sorry for you. I agree there's a definite "political" slant to it. Especially with references to "the last government" and "the then-government". If this is all triggered by the fact that the Payments Council got it wrong in trying to phase out cheques - so they should go. I wonder what that says about the government itself and all its political u-turns? Perhaps they should go as well? All of that said, the creation of a new "regulatory body" shows political interference. Will this new body really be independent? The Financial Services Industry is one of the most powerful and important sectors in the UK. Also it has quite a few "high earners" who might want to fund the various political parties to "pull a few strings" behind the scenes. Also you point about Luxembourg is valid. I know that PayPal already has a banking license - issued in Luxembourg. Just like fraud finding security "loopholes", if there's a reason to sidestep or avoid regulation, given sufficient financial incentive - I'm sure there's a way of doing so. Be that moving operations to Luxembourg or making them virtual "in the cloud". I think that trying to strong-arm the industry into following licensing terms and bureaucratic regulations will not encourage innovation. Quite the opposite. I only see the likes of Metro Bank potentially benefiting from something like this. It will be interesting to see where the debate takes us, but as you said "Industry consultation came out clearly in favour of the Payments Strategy Board so equally clearly the government has decided to do something entirely different". So no matter what is commented back on this "consultation" - will it really make any difference or just be ignored in favour of a decision that's already been made from an ivory tower?