Tim Lambertstock, Payments Consultant, was the speaker at our well-attended January meeting. Tim gave an introduction to payments and payment systems, covering both the UK and international schemes. He went on to describe how this is changing, particularly with initiatives such as the UK Faster Payments scheme and how new entrants – both new banks and alternative payment providers – were likely to impact the market. This led to a lively and very interactive discussion on future payment systems, how the use of cash could change and what would emerge to address the planned ending of cheque clearing in the UK in 2018.
Tim talked about how mobile and online payments are the key to the future and where most development is currently taking place, not just by the banks as traditional payment providers but by mobile operators and third parties.
The slides from Simon’s talk are available from our download section.