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2017

Jonathan Williams

Principal Consultant at Mk2 Consulting Ltd

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Consolidation of Payment Rails

It's clear that payments depend on a few providers. Managing that risk in the UK is the key challenge to PSR, FCA, Bank of England and Pay.UK.

25 Jan 2019 Reply Read article

Consolidation of Payment Rails

The €108trillion figure is cashless not contactless (easy slip). €108tn relates to a UK GDP of about €2.5tn. Put it in context, that's €18m of payments per inhabitant of the UK. That's still quite a lot. I think the mastercard acquisition of Vocalink was very timely and focussed. The Earthport acquisition may be as well, but it relies on control of remote accounts for the most part and I'm therefore not clear these are rails, more bogeys. In any case, schemes should spend money while they have it, anticipating that the golden years are coming to an end for the cards market. We should, of course, keep an eye on concentration of risk in a few providers. After the Visa outage last year,it's clear s

25 Jan 2019 Reply Read article

Mastercard enlists Worldpay to push Vocalink's Pay by Bank app

Some good points on the PISP interface discussion, but don’t overlook the other end of the transaction. Remember that payments is a two-sided market and it may be that merchants will rewardconsumers (and commercial payers) out of the transaction cost savings. With good fraud prevention, which we expect PSD2 & CMA9 Open Banking to deliver, fraud provision will be small, but other disputes must be handled well-enough if not using card/credit protection. Don’t assume that consumer benefits aren’t there because they’re not being provided by their PSP, and don’t forget that merchants need benefits too.

16 Jul 2018 Reply Read article

BACS and Faster Payments privatised to single individual

Bob, that is a good point. There were three directors at formation and as of December 18 2017 a sole director was notified as a person of significant control - Mr Stansbury. That situation has not been notified to Comapnies House as having ceased so we must assume that this is stil the case. As Sarah Rutherford, asks "Even if he's extremely virtuous, what would happen if he were to die? Would Bacs PS Ltd and Faster Payments Ltd become part of his estate?". Indeed. How would those assets get assessed for probate purposes? Given there is now another director who professes to be a Risk Management specialist, you'd imagine that is a risk he's considered. In any case I do, fervently, wish Mr Stansbury well; the alternative is inconceivable.

02 May 2018 Reply Read article