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What we learned about the UK’s New Payments Architecture

On 18th October 2018 Pay.uk – the re-branded New Payment System Operator – held a launch event and distributed brochures about their procurement process for a strategic partner with whom to develop the New Payments Architecture – or “NPA” – for the UK’s retail payments.

The prospectus was entitled “Enabling a vibrant UK economy”, so we […]

Bank of England – roadblock to opening up UK payments

We learned on Thursday 18th October 2018, at the launch event of Pay.uk, that any renewal of the UK’s retail payments infrastructure will have to wait until after the renewal of the Bank of England’s payments infrastructure. This is by far not the first […]

Pay.uk – our new “zaibatsu”

New Payment System Operator Ltd (“NPSO”) has just changed its name to Pay.uk Ltd, a shatteringly unoriginal name and unfortunate in that NPSO was meant to signal a clean break from the previous power structure over the UK payments landscape.

Payments UK, the previous industry trade body, scarcely lies cold […]

Lyddon Consulting submissions to the Treasury Select Commitee on “Confirmation of Payee” and APP Fraud

Based on research we carried out for Project Carlton and communications via our constituency MP, we made a submission on NPSO’s proposed “Confirmation of Payee” service and on Authorised Push Payment Fraud, and into the Treasury Select Committee for their inquiry into the work of the Payment Systems Regulator.

You can download the submission here

Shortly afterwards […]

Eurozone private banking system gearing up to replace Eurosystem Quantitative Easing

The Eurozone banking system will have to gear itself up this autumn to take over the supply of credit from the Eurosystem, as the Eurosystem’s version of QE – called Asset Purchase Programmes – is wound down.

The winding-down is in stages. There will be no new purchases to start with, and then the proceeds of […]

Only days left for the Conservative Party to block Chequers Plan

If you have ever tried to listen to a damaged 78 rpm record of Harry Lauder’s “Keep Right On To The End Of The Road”, Theresa May’s speeches since Salzburg will be familiar in both form, and content, and in their constant re-covering of the same ground as the stylus slides uncontrollably between the grooves.

It […]

Another week at New Payment System Operator and another I cannot BELIEVE it moment or three

New Payment System Operator never fails to disappoint in terms of its governance and processes. Three Victor Meldrew moments in one week – that is a new record.

Firstly we have an announcement that Louise Beaumont, a member of NPSO’s End User Advisory Council (“EUAC”), has taken on a role as Industry Advisor at the large […]

Turkish banks soon to reach World Class levels of Non-Performing Loans

Turkish bank Non-Performing Loans (“NPLs”) will soon be reaching World Class levels, even if the bar has been set very high by the banking systems of Greece and Cyprus: only NPL levels of 40-45% of total loans gets you into this elite club.

This is where a main result of the decline in the value of […]

Project Carlton Phase 1 on UK payments landscape is complete

The sponsor of Project Carlton has signed off on the initial research and endorsed that it be shared for validation with five or six interested parties.

You can get a sneak preview of the Preface in the inset within this blog.

The research plots the ministrations towards the UK payments landscape over the past 5 years of […]

The UK’s New Payment System Operator makes a World Class CoP-out on Confirmation of Payee

New Payment System Operator (“NPSO”), the organisation charged with delivering the UK’s New Payments Architecture (“NPA”) and the “End User Needs” services dependent upon it, seems to be backing away from its sense of responsibility towards “Confirmation of Payee”, or “CoP” for short.

The CoP service is where a payer confirms that the payee they already […]