Access to Payment Schemes for Fintechs
Since 2017 the Bank of England has provided a framework for non-bank payment service providers to access all UK domestic payment schemes. In this video, Michael outlines the route for Fintechs to get access to payment schemes.
Overview
As Fintech continues to expand, they will increase their role in the day-to-day life of making and receiving payments for retail and wholesale customers. They will continue to get access to commercial banks and markets as they encourage growth and technological innovation in finance.
Key learning objectives:
The components of a payment scheme
Fintech’s increasing role in payments
The schemes provided by the UK and the Bank of England
Summary
Expert
Michael Bond
Michael currently works as the Director, Expansion & Banking at Trustly. Having previously worked as Head of Global Banking for ePayments. Similarly at Lloyds Banking Group as the head of fintech for the commercial bank. Also covered the public, tech, media and telecommunications sectors.
