Payments:Unpacked @ Mike Chambers

Sibos 2025 has been and gone Just before SIBOS  Owen McDonald  and  Vitus Rotzer  from Bottomline broke down the likely hot topics for the event - from the seismic ISO 20022 migration shift and G20 goals cross-border payment goals to real-time payments expectations.  Vitus predicted a focus on upgrading legacy and siloed systems to enhance resilience and compliance, combat fraud, and transform aut...

SaaS represents a shift from business structure to intelligence - by flipping the script this podcast proves that SaaS is not just about upgrading legacy technology. Hear  Owen McDonald  from Bottomline speaking with  Amrita Ghanekar , Senior Director at BNY Treasury Services, about the forces driving payments modernisation.  From SaaS as a strategic enabler to the rise of data-sharing ecosystems...

Fiat: Let it be doneWhat Fiat Cars Can Teach Us About Fiat Money Spoiler: They’re not related - but the metaphor works beautifully. You’ve probably seen a Fiat 500 zipping down the street—small, stylish, undeniably European. But have you ever thought about what “Fiat” really means? And more importantly… What does a Fiat car have to do with fiat money? It’s a fun question because while they come fr...

Dining out on acronyms We use abbreviations every day - in writing, texting, note-taking, talking and, of course, in payments There are a few different categories of abbreviations, and acronyms is one of them When you shorten a phrase by using just the first letter of each word and then pronounce it as a new word, you’re using an acronym Payments aficionados often dine out on acronyms with the fir...

🎧   The Billion-Pound Scam: Fraud in 2024 In 2024, fraudsters stole over  £1.17 billion across the UK — and the threat isn’t slowing down. In this episode, we unpack the latest UK Finance fraud report and explore: The rise in unauthorised fraud cases How banks stopped £1.45 billion in attempted theft The evolving danger of APP (Authorised Push Payment) scams New reimbursement rules — and what the...

On Monday make sure you raise a glass to Sir John Lubbock the patron saint of banking What’s a Bank Holiday, Anyway ? Ever wondered why they’re called  Bank Holidays —or why you’re suddenly seeing  Public Holidays  in your calendar? In this episode of  Payments:Unpacked,  we dive into the surprisingly fascinating history of the UK’s most beloved days off.  From the Victorian-era beginnings of the...

Baked Beans, Spaghetti Hoops & Macaroni Cheese A Light Hearted Tinned Food Tour of UK Payment Systems 📌 Episode Summary: In this fun and food-themed episode of  Payments:Unpacked , host Mike Chambers serves up a  light-hearted  comparison of the UK’s most common payment schemes — Faster Payments, Bacs, and the cheque clearing system — using a trio of classic tinned foods.  From the future-rea...

Coins Of The Crown: The Hidden Meaning Behind Maundy Money Today, we’re diving into a centuries-old tradition that still sparkles with silver and symbolism:  Maundy Money . It’s Holy Week in the United Kingdom, and the Thursday before Easter is no ordinary day—it’s  Maundy Thursday .  On this day, something a little unexpected happens. The King—yes, King Charles III now—hands out special coins to...

QR Codes and Quishing Today we are delving into a concerning trend that’s been making headlines (again) - the dramatic rise in QR code scams, commonly known as “quishing.” QR codes were invented in 1994 by Masahiro Hara, an engineer at the Japanese company Denso Wave, which is a subsidiary of Toyota. Since 1994 QR codes have become a ubiquitous part of our daily lives. From restaurant menus to par...

Today we’re talking about the Tooth Fairy. Specifically: how does the Tooth Fairy even function in a cashless world? Think about it—kids don’t use cash, parents don’t carry cash, and banks are closing branches faster than my willpower at a doughnut shop. So what’s the Tooth Fairy supposed to do? Sign up for the free Payments:Unpacked newsletter: With thousands of reads each week the Payments:Unpac...

Cheques were once the primary way people and businesses moved money around in the UK. But now? They’re going the way of the fax machine, the DVD rental store, and the telephone directory. So, what happened? And what other once-dominant things have suffered the same fate?  Sign up for the free Payments:Unpacked newsletter: With thousands of reads each week the Payments:Unpacked newsletter is the be...

Coming, ready or not: ISO 20022 SWIFT Compliance Deadline The November 2025 deadline for ISO 20022 compliance is fast approaching, requiring all financial institutions handling SWIFT payments to adopt the new messaging standard. Implications of Non-Compliance While customer transactions won't be immediately affected, non-compliant messages will incur additional processing costs for banks. The...

In this “ crunchy showdown ” we   take two completely unrelated things and force them into a head-to-head battle for no good reason. Walkers Crisps  - the undisputed king of British snacks. Faster Payments  - the system that made sending money go from “waiting three business days” to “done in a second.” One revolutionised snack time, the other revolutionised finance.  Let’s find out in this head t...

What Barbie teaches us about digital payments Think about Barbie’s journey in the film. She starts off in Barbie Land—a perfect, plastic world where everything seems just right.  But then, things start glitching, and she’s forced to step into the  real  world. It’s uncomfortable. It’s unfamiliar. But it’s also necessary for her growth. Now, let’s apply that to payments………. Sign up for the free Pay...

Spitfire vs. Concorde: Learning from aviation’s icons

Bacstel-IP: In the room where it happened Summary In this podcast episode of Payments Unpacked, Mike Chambers reflects on the Bacstel IP migration, a significant technological overhaul in UK banking that took place 20 years ago. He discusses the challenges and successes of migrating over 100,000 organisations to a new internet-based payment system, highlighting the importance of collaboration amon...

Join  Richard Ney  from  Lerex  as he shares his thoughts on: Money Streaming and the need for a new payment method and The compliance and technology gap.

We've made it - It's C-Day! 31 October 2024 is the mandatory deadline for the implementation of Confirmation of Payee (CoP) in the United Kingdom Sign up for the free Payments:Unpacked newsletter: With thousands of reads each week the Payments:Unpacked newsletter is the best (free) payments read out there – to subscribe head over to:  ⁠⁠⁠⁠⁠www.northeypoint.substack.com⁠⁠⁠⁠⁠ Check out our blog:   Y...

Are you ready ...... for Confirmation of Payee?  With 21 days (10 October 2024) to go Richard Koldwijn from SurePay shares his thoughts on the rapidly advancing mandatory deadline for account name check here in the UK. Sign up for the free Payments:Unpacked newsletter: With thousands of reads each week the Payments:Unpacked newsletter is the best (free) payments read out there – to subscribe head...

What comes after Confirmation of Payee? It’s time to start preparing for EU Verification of Payee (VoP) for mainland / EU operations. Webinar: Thu 24 Oct at 10:00 – 11:00 BST​ Regster: https://events.teams.microsoft.com/event/f475caee-690d-49e7-989d-1e1ac92c8702@494d89ef-a168-4e7b-adce-67042d2380af/registration Now that you’ve successfully implemented Confirmation of Payee (CoP) in the UK, it’s ti...

With eye watering levels of  Authorised Push Payment fraud  and the introduction of a mandatory reimbursement requirement this coming Monday (7 October 2024) now is a perfect time to get  Fincrime Dynamic’s  perspective on payment fraud and hear about their mission to “help build better defences against financial crime.”  Thank you to  Stephen Quick  for joining this podcast and exploring how a pa...

With eye watering levels of  Authorised Push Payment  (APP) fraud and the introduction of a mandatory reimbursement requirement next month now is a perfect time to get  Tunic Pay’s  perspective on payment fraud and hear about their mission. Tunic Pay’s landing page encourages PSPs to “stop APP fraud by joining their Intelligence Interchange - stopping fraud, managing operations, and keeping your c...

Women in Alliances: Helping women in Partnerships, Channel, and Alliances build their careers. Annual Summit: 📅 15th October 2024, 🕑 3pm BST / 10am EST / 10pm SGT 🔗 Register now: https://registration.livegroup.co.uk/wiaas/ In 2020 a number of women from Alliance Best Practice decided to get together and create a group to help one another to boost their careers and global network. The group are...

From the first recorded use of cash in Lydia (640BC) via banknotes causing excessive inflation in China (AD806) and a jailed Swedish banker (1600's) we arrive at the UK's first handwritten cheque in 1659. For 300 years nothing else happened in payments until 30 years (starting 1960) focused on making cheque better and 30 years (starting 1990) of putting in pace the building blocks for the...

From the first payment priorities for an incoming government, the future of cheques, the next steps for open banking and what to look for in a payment aggregator Izzy and Spencer ask Mike (payment) questions. Host : Mike Chambers Guest(s) : Izzy and Spencer Get early access to new episodes and full access to the podcast archive. Subscribe before the 31 August 2024 and you'll also receive twelv...