273 Results from 2015, /payments
Retired Member
The seven-day Account Switching Service was launched almost two years ago with much fanfare however we are still seeing only a minority of people moving their current accounts to a new provider. According to statistics from Bacs and the Payments Council, 1.3% of personal current accounts have been switched in the past year, and 2.1% since the star...
01 May 2015 /payments /retail UK Faster Payments
Derek Garriock Innovation Director at Experian
Recent research has suggested that by 2020, credit and debit card payments will no longer be the preferred method of payment, with paying by smartphone taking over. If this expectation becomes reality it will signal a remarkable milestone in the meteoric rise of the smartphone. While cash and card payments still currently dominate, there is a la...
30 April 2015 /payments
It’s been a few weeks now since Clydesdale Bank first issued the £5 polymer note to the public and from what I can see consumer reaction, so far at least, has been overwhelmingly positive. A quick look at Twitter reveals very little negativity around the launch; instead, consumers shared their excitement of the new ultra-durable note. “Can't wait t...
30 April 2015 /payments /retail
There are many reasons why online merchants may lose sales. Difficult to navigate web pages, poor choice of products and asking customers for too much personal data are all valid reasons. However, one element which is regularly overlooked comes at the very end of the customer’s shopping journey and is in fact one of the main reasons for basket aba...
Although most news stories today, unfortunately, tend to be negative, every once and a while there is positive news so compelling that it is worth highlighting in a blog. This post describes the recent World Bank report on the massive drop in the number of unbanked people in the world and looks at what is needed to make further progress in the
23 April 2015 /payments /inclusion
Delivering a positive client experience is becoming increasingly important for payment providers, especially in light of growing competition from challengers. SLA breaches, or ineffective management of the fall out of processing issues, can quite understandably rapidly reduce the chance of those impacted trusting the bank with future business or r...
23 April 2015 /payments /retail
The total number of UK charitable donations made by Direct Debit rose to a record breaking 60 million in 2014, according to data from Bacs Payment Schemes, with values exceeding £1.21 billion, a rise of 4.1%. The study found that a number of charitable sectors benefited from Direct Debit in the last year, with the greatest beneficiaries being th...
21 April 2015 /payments /startups
Understanding who your customers are, what they can afford and how best to communicate with them are essential best-practice principals in any good collections set up. Treating customers fairly is not only an essential regulatory expectation; it also makes good business sense. People respond best when treated as individuals and this is true at ev...
21 April 2015 /payments
Tom Hay Principal Consultant at Payment Systems Europe
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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...
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