Recent developments in payments

In the past payments has been seen as a relatively quiet but profitable area for banks. In recent years this has started to change, not just through regulation such SEPA & Faster Paymentsas SEPA and the UKs Faster Payments initiatives, but also competition and innovation such as PayPal and mobile payments to pick out just a few examples. Banks are realising that the trends in payments are for faster, cheaper, increasingly transnational mechanisms that demand increased complexity not just to deliver the payment but also to ensure the appropriate fraud, risk and credit checks are performed. These become almost exponentially more difficult as the time between initiation and irrevocable settlement of the transaction decreases.

At the same time the banks are being asked to provide this increased complexity at a lower price point and cross border. Payments is no longer dull, but without careful management it may also no longer be profitable. Read more of our research material below to find out more:

For more details on our research findings or expertise, contact us More >>

Faster Payments Survey

January 2009 - A new survey carried out by MPI Europe on behalf of industry information site fastpayments.co.uk confirms that scheme members have successfully implemented this innovative payment method, yet there is still significant work required to realise the full benefits of Faster Payments, particularly in terms of widespreasd adoption of the scheme, as well as in the development of more effective security measures. More details will be published shortly on this site. In the meantime for more details please contact us.

More to explore

MPIE are actively involved in UK Faster Payments and SEPA. As an example of the diversity of our offerings we have run a number of Faster Payments courses with a partner organisation, giving training to major UK and European banks. We have also worked with partners to set up an industry information web site on Faster Payments which became a reference source for many banks including information on the central infrastructure run by Vocalink. Join our payments group on MPI payments group on LinkedIn to see discussions on the latest topics and keep informed of future updates.

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