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Bob Lyddon Consultant at Lyddon Consulting Services
On 18th October 2018 Pay.uk - the re-branded New Payment System Operator - held a launch event and distributed brochures about their new service called Confirmation of Payee, or CoP. We have previously labelled Pay.uk’s approach to CoP as a “CoP-out” and so it has proved. CoP is the service that up to now was: Meant to solve Authorised Push Payme...
30 October 2018 /payments
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"...
23 October 2018 /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 the first instance of the Bank of England standing in the way of innovation, new competitors, new services an...
21 October 2018 /payments
[Sourced from the research behind Project Carlton] New Payment System Operator Ltd 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 ...
14 October 2018 /payments
Scott Cutler Director, at Fortinet
The financial services sector is a high-value target for hackers, and therefore faces daily attacks that attempt to bypass defences protecting a growing number of attack vectors. A staggering 36 per cent of these attacks result in data loss. This growing risk comes at a time when financial services firms are turning their focus to innovating new
05 October 2018 /payments
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 a...
29 August 2018 /payments
NPSO Report & Accounts for the period from its foundation on 18th July 2017 until 31st December 2017 show Directors' Remuneration at £229,469, with the highest-paid director receiving £93,333. This seems like a very large bill for a board on which 6 out of 7 directors were non-executive. It is not even a bill for 1/2 of a year, but more like 1/...
15 August 2018 /payments
The sponsor of Project Carlton has signed off on the intial research and endorsed that it be shared for validation with five or six interested parties. The research plots the ministrations towards the UK payments landscape over the past 5 years of HMTreasury, the Bank of England, the Financial Conduct Authority, the Payment Systems Regulator, the P...
13 August 2018 /payments
Two weeks ago, in a blog here on Finextra, we stated that our company had obtained initial funding and support for a project to design a new suite of UK payment services, to set against those being implemented by the UK’s New Payment System Operator (“NPSO”). This project now has a name – Project Carlton – and it is at the stage where we have deliv...
20 July 2018 /payments
We just sent the third and final call in our series to the Wolfsberg Group, this time regarding the “Country Risk – Frequently Asked Questions” that Wolfsberg issued in March 2018. We are asking that Wolfsberg put into the public domain the Competition Law advice it has taken about its governance and activities on a general level, to be followed by...
11 July 2018 /payments
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