About this event
Without alternatives to card payments, merchants continue to face high fees for taking payments online, high rates of card-not-present fraud and high purchase abandonment. Consumer payment journeys are often longer and less convenient for cards when buying online than at the point-of-sale.
Open banking in the UK and EU has created a new online payment option: instant bank transfers, which offer lower fees, better security and more convenience for consumers. In February of 2021, more than one million open banking payments were processed in the UK, compared with 300,000 for the whole of 2019.
But how mature is this payment option, who’s already using it and will consumers adopt it?
Key takeaways:
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Roger currently leads the eCommerce team at TrueLayer, bringing open banking to any online payment. Roger has decades of experience in the payments and eCommerce space, previously leading enterprise sales at payments company GoCardless, Google and IBM.
Alan led the work on creating the OBIE’s Revised Roadmap, and has been instrumental in obtaining agreement from the CMA to add Variable Recurring Payments for Sweeping to the CMA Order which underpins open banking in the UK.
Jack leads engagement with UK and EU regulators and authorities, and sits on a number of committees as a fintech and regulatory expert. He is a former policy adviser at the UK banking regulator the FCA and a UK representative on European Banking Authority and European Central Bank Committees.
Judith runs the Electronic Money Association, which has been serving the e-money industry for over 20 years and is currently a member of the UK Finance Programme Steering Group for the UK migration to Strong Customer Authentication (SCA) for e-commerce transactions.
Andrew is the Head of Payments for the British Retail Consortium. He coordinates industry engagement with Government, regulators and providers on matters relating to retail payments and consumer credit, and acts as a spokesperson for the industry. He has led the industry response to the IFR, PSD2 and domestic initiatives, including the Payments Strategy.
The go-to trade association for all UK retailers, promoting the story of retail, shaping debates and influencing the issues that matter to the industry.
BRC membership is open to UK retailers, retail-related trade associations and companies who provide services to the retail sector.