2016 was a funny year, wasn’t it?Nizam Yusuf
Over the last twelve months we have witnessed many ebbs and flows, a few unexpected events and several twists in the tale.
Even if you ignore Brexit and Trump (we can all try) and the aftermath that followed, 2016 was a mixed bag for the banking, payments and financial services ecosystem. A year we are certainly not going to forget in a hurry.
Nevertheless, we’ve all made it through safe and sound, and here at AccessPay we are certainly feeling positive about what 2017 has in store.
— AccessPay (@Access_Pay) 5 January 2017
The status quo gets a long overdue shakeup
2017 has all the signs of a pivotal year in the making – and at AccessPay, we’re looking forward to getting stuck into helping shape the conversation around UK Payments.
As well as getting involved in more discussions around PSD2, Open Banking and open APIs, we’ll be discussing in more detail how the future payments landscape will look with all the policy and infrastructure changes on the horizon.
“WE” did a lot in 2016
Below is a summary of some of the events that have shaped 2016 at AccessPay:
We spoke up when we disagreed
Unhappy with MasterCard’s $920 million acquisition of VocaLink, AccessPay CEO, Anish Kapoor shared his views on why he believes the deal would “kill payments innovation in the UK“
Passionate about what the UK Payments industry has to offer, now and in the future, Anish posted his views in a company blog post, in a “tell all” format that truly slammed the agreement.
With the debate now back in the limelight – see: Competition and Markets Authority response – it is surely something that is going to be disputed as long as there are payments enthusiasts to debate it.
Our admirers, thought we were the bee’s knees
In May 2016, Barclays provided AccessPay £1 million in funding to support company growth and further develop our relationship with the bank.
The local Barclays team in Manchester demonstrated from the start that they fully understood our market proposition and drive to make business payments as easy as possible, recognising the potential of the business to achieve rapid growth.
Buzzwords, Smuzzwords – proof is in the pudding
Agile, Innovative, Connected, UX, Unified and Portal – Some write the words to fill up space, while others just talk in a manner to feel like part of the clique. At AccessPay, we only use buzzwords when they are pertinent – and that was certainly the case this year.
In 2016, we launched the AccessPay Unified Platform, that allows our customers to steer all their business payments from one single access portal.
By processing payments and collections through one easy to use portal, manual intervention is removed providing a significant time and cost saving as well as better management information and improved security.
We wrote stuff down, which we felt would benefit each and all
Here are FIVE of our most viewed blog posts in 2016. If you missed these gems when they were posted, now’s your chance to read them!
1. PSD2: Move with the times or get out of the race – PSD2 is coming to a payment screen near you. And for those who don’t know about it, here’s a quick overview of “What is PSD2?” and how it will impact banks, lenders and businesses over the next few years.
2. We’ll always have SEPA – or will we? – It’s highly unlikely that hard negotiations by the EU will force UK to abandon SEPA. In this Post-Brexit blog post, we take a closer look at what the EU Referendum leave vote means for SEPA Users in the UK.
3. Simplicity Is The Key To Brilliance – If you’re looking to take control of your payments and collections process and start maximising those existing customer relationships, perhaps this Bruce Lee quote can shed some light as to why Direct Debit could be an ideal solution.
4. “But we’ve always done it that way!” – A best-practice blog on how Membership and subscription-based organisations could cut the cost of collecting monthly payments by up to 90%?
5. Putting a lock on your lock – With internet fraud, cyber threats, online scams on the rise, we explained how Two-Factor Authentication could be implemented to avoid these risks, especially when making business payments.