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Location
London
Member since
2020
Writes about
Payments Regulation & Compliance Retail banking Financial inclusion Cryptocurrency Markets Financial Crime Predictions

John's blog archive

2024 (9) 2023 (11) 2022 (9) 2021 (18) 2020 (2)
John Bertrand

John Bertrand

MD at Tec 8 Limited
Message Message me Posts: 49 Comments: 9
Bio Working with large banks and FinTech companies to provide banking with business solutions for the digital age across transactional banking. Covered many aspects of banking including FX, MM, payments, real time activities including liquidity. Holistic reviews of cash management for bank and client, both retail and business, direct corporate ERP bank linkages and Open Banking/PSD2. (Please see 'A Step by Step Approach' to Open Banking and You'. (www.amazon.co.uk). Includes the new technologies (Blockchain), digital money (cyber currencies) and security against cyber-crime. Career History Extensive expertise and management in banking and technology, from both bank and IT supplier experience: Citi, Misys (Finastra), FIS global, SAP and Cognizant.

Blogs

The Payments Business

Greetings from New York City, where you can save money by paying in cash.

12 May 2024

Watching a televised rugby game, Leinster playing Northampton, at an Irish pub, The Long Hall, NYC, the bill if paid in cash would be discounted. On $100, savings could have been $3.00. Incentives, in the US cash are plentiful, for example, the price of gas (petrol) is lower at the pump when cash is used. Also, at the point of payment, the cust...

The future of Payments in Europe

Global Instant Payments - the next big thing

01 May 2024

Answering the question “what is the next big thing” well it is Global Instant Payments. The importance of this is ‘Elon Musk’s X now has a Money Transmitter License in 25 US States and the goal is a self-contained financial ecosystem within the X platform. Musk was behind PayPal ranked second in a report of 10 Best Online Payment 2024. While more...

1

Digital Bank Transformation

Future of Payment Review – who will pay?

26 Apr 2024

Future of Payment review published in 2023 on behalf of the UK Government, reflected the complexity of the current environment in the UK for instant payment. The review is clear that the UK needs to move to the next generation of instant payment with timely and accurate information. However, who will pay for that move? The Future of Payment Review...

2

Operational Risk Management

Future of Payment Review – six-months on – APP Fraud

18 Apr 2024

Joe Garner’s Future of Payment review published in 2023 on behalf of the UK Government reflected the complexity of the current instant payment UK environment. The situation has allowed the UK’s early leadership in global instant payments to decline. The UK is starting to fall behind in terms of person-to-person payments made by bank account transf...

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See all John's blogs

John is Commenting on

Future of Payment Review – who will pay?

  Ketharaman - good long term positioning for the big American companies as India's international instant payments grow, where payment and FX fees are allowed, revenues will flow.     

29 Apr 2024 Reply Read article

Accelerating the use of Instant Payments

  Ketharaman - reimbursement details are being finalised by the PSR for the UK for consumers and SMEs. Larger companies where revenues exceed £5 million per year are excluded. EU is adding CoP mandates in 2024 so we’ll have to see how euro reimbursements are addressed.

04 Oct 2023 Reply Read article

Accelerating the use of Instant Payments

  Ketharaman - as an estimate for APP scams of 0.1% compared to what a what third party cheque cashing business is experiencing is optimistic. That is APP scams will be higher based on experience and the weaknessess within the current payment flow. It is highly likely the APP scam rate will be higher greater and probably greater than 0.2%. Yes something further needs to be done to prevent misdirected and scam instant payments.   

03 Oct 2023 Reply Read article

Accelerating the use of Instant Payments

  Ketharaman - To give an idea of loss rates in the physical cheque cashing business - "cheques cashed here" - the run rate can be 15 to 25 basis points ( 0.15 to 0.25%). The fee for cashing the physical cheque to the end user can be up to 15% (< 2,000 bp) of the amount but normally 5% (5,000 bp) with a minimum fee. To cash the cheque the person has to be present, prove they are who they say they are and the cheque is their's. The files are then checked to ensure that the cheque is valid. If the check and person can not be validated then they are politely turned away. Given most APP fraud/scams the Payer has not had a physical meeting with the Payee or verified who they say they are. The UK banks with CoP - currently 10 out of 300 - do verify the account owner for domestic payments. IBAN used in International payments, usually the last instant payment of the scam, does not verify the ownership of the bank account. The figure of 0.1% (10 basis points) for a global benchmark given the above seems low. Breaking out the benchmark by market sectors - consumer, SME and Corporate - could be more accurate. Thank John     

02 Oct 2023 Reply Read article