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People have been talking about the possibility of a dynamic CVV for years.   It's a really neat solution which deserves to succeed.  I believe the technology has been developed by NagraID - the Display Card company - which i seem to remember was taken over by Oberthur not so long ago.

Nice blog Alex!  Great case study of how an innovative payments strategy based on advances in payments technology can have a big impact on a business outside the mainstream payments industry.

Does anyone know how Paym fits in to this story?

According to what I read:

• Paym allows consumers to make person-to-person transactions via their existing mobile banking app using mobile phone numbers
• Zapp allows consumers to make payments to retailers utilising their existing mobile banking app

But both are mobile payment services run over Faster Payments, are presumably operated by Vocalink and all the UK banks now seem to be on Board via what used to be the Payments Council.  Surely it makes sense to merge the two things?

Good luck Liz.  I've always enjoyed your pieces and I look forward to more of the same in whatever reincarnation you choose.

Nice article Charmaine - thanks!

Yes - really nice post - it's going to be an interesting battle!

Nice post Marcelo.  This is going to become an increasingly important issue.

@Paul.  My sentiments exactly.  I too was impressed by the SPA statistics. I've long been interested in technology innovation, particularly as regards payments, and all the evidence suggests that we tend to overestimate the speed with which new technologies are adopted and underestimate how long old technologies stick around.  See here for a presentation:  http://www.collinconsulting.co.uk/technology-innovation.html .  I expect the plastic card to be with us for many decades to come

Interesting!  As usual I'm with Ketharaman on this one.  I too continue to resist offers to switch to paperless statements.  For me, the monthly discipline of receiving, checking and filing a paper statement is something which online services have been unable to reproduce.  Passwords are a major problem.  And printing out statements is a big hassle for me.  On the other hand I'm a big fan of online banking and regularly check my financial details there too.  There's a lot of quite subtle behavioural, ergonomic and psychological things going on here which I suspect most banks don't understand and have never properly researched.  It's undeniable that the potential cost savings for banks are huge, but until they come up with much more imaginative approaches I fear those won't be realised.

@ Ketharaman.  Too true!  When it comes to innovation in the payments industry or a long time now I've adopted this modified version of Bill Gates' famous quote:  "after 10 years you're amazed at how little progress has been made; after 20 years at how much"!