Latest opinions that Tom Hay has shared on Finextra

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Tom Hay

Principal Consultant

Payment Systems Europe

Member since

13 Aug 2009

Location

London

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Tom's opinions

How to make money from PSD2

The final compromise text for the EU Payment Services Directive 2 (PSD2) has now been published and is unlikely to change substantially when passed as legislation, probably in September this year. Some significant details are still hazy, but the thrust of the legislation is now clear, so banks need to start planning their strategy to address the r...

12 June 2015 /payments

Access to Payment Clearings - Behind the Green Door

“All I want to do is join the happy crowd behind the green door”. So sang Jim Lowe in 1956, and we’re hearing something similar from smaller banks and non-bank financial institutions today, pressuring payment clearing systems to open up their doors – if not to all comers, then certainly to a much wider community than the clique of banks who curr

19 May 2015 /payments

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21 April 2015 /payments

Immediate Payments And Humpty Dumpty

As I collected the broken and uneaten remains of my children's Easter eggs, it reminded me of a particular egg: Humpty Dumpty, from the English nursery rhyme. Poor Humpty fell off a wall: "And all the King’s horses, and all the King’s men, Couldn't put Humpty together again." There is no King of Europe, but there are plenty Presidents – o...

21 April 2015 /payments

Access to Faster Payments - Mission Accomplished?

Access to payment systems is high on the priority list of regulators in the UK and the EU. Faster Payments were proactive on this issue, and in December last year they published a ‘Vision for a New Access Model’. How far does this go to addressing the obstacles that challenger banks and non-bank PSPs encounter in accessing Faster Payments? Obstacl...

26 March 2015 /payments

Is Fedcoin the Future for Faster Payments?

Digital fiat currency A recent presentation and blog by David Andolfatto of the St Louis Fed discusses the idea of a government-backed digital currency – exactly like Bitcoin, but issued by the Fed and exchangeable at par with ‘real’ dollars. Although this radically contradicts the political philosophy of Bitcoin, which was meant to wrest control...

16 February 2015 /payments