Community

Excellent information. VCs are nowhere near as expert as they claim to be.

I do not believe these statistics. I will review the stats in early 2023 and take Checkout.com to task.

It will be interesting to see how much Domm Holland paid himself during the company's existance.

For retail customers how does Request to Pay differ from a Variable Amount Direct Debit, which has been available for the last 30 years with customers of corporates such as BT, Britsh Gas, etc.

This is the third decade of the 21st century. The technology is avalable to provide the information immediately, so what is the problem? The only reason for non-compliance is either a desire to keep the information from being disclosed or a lack of investment in technology.

Most organisations have had 50 years to introduce such customer service and have consistently failed to do so. Arguing that nine months is too short a time to get this service in place is disingeneous. Why are they not in place now?

Barclays are quite right. It is no surprise and has been predicted from day one.

No mention of Building Societies. Nationwide in the UK is the largest building society in the world, and offers full personal banking facilities, as do most of the other large UK building societies. Last time I saw statistics, Nationwide was increasing it's market share, whilst all of the major retail banks were losing market share.

Variable amount direct debits have been available for 50 years in the UK and are the standard way of paying utility bills, insurance policies, etc. The two day (not three) in BACS is irrelevant. Second, setting them up is simple and no more complicated than the method that you suggest. VRPs are not a game changer. They are no difference to a VADD.

Amazon's decision to terminate their agreement with Visa had nothing to do with Open Banking. It was purely based on cost.