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Register for Payment Roundtable 2019

6th Feb 2019 - Cavendish Conference Centre, 22 Duchess Mews, Marylebone, London W1G 9DT

Time: 1:00 PM – 3:00 PM

Moderated by Paul Rodgers CEO of Vendorcom, The Retail Bulletin will be presenting some imperative information which retailers need to grasp to exploit the 'no brainer' opportunity of cost savings in cash management. With immediate and significant financial gains, all retailers will leave this event with 'how to' steps to increase profits and customer engagement through better cash processing.

Key points 

The reality has to be faced:

  • Fixed costs of cash are unsurprisingly FIXED and are therefore becoming a significant cost of accepting the lower value of cash payments.
  • Bank branches are closing
  • Free to use ATMs are at risk
  • Few merchants will ditch cash completely – it’s a discriminatory policy
  • London has a real dilemma: tourists use cash!
  • ‘Reliant on cash’ group increasing: 2.7 million people in UK in 2017
  • There’s as much tech innovation in the cash world as in the digital transactions arena – the neo fintechs are just too self-obsessed to see it
  • Fintechs / neo-fintechs need to look relevant

The routemap to the future:

  • Help merchants reduce the ‘fixed’ costs of cash
  • Demonstrate the fallacies in the ‘cash is dead’ narrative
  • Explore UK regulatory change to allow ‘Provisional Credit’ as in USA and The Netherlands
  • Create collaborative case studies
  • Gather meaningful, objective statistics
  • Call on Government to develop a 10 year ‘Cashless Trial’ in selected cities, towns, and villages
  • Explore the aging debate

Other Key points we will touch on: 

Regulatory Technical Standards for Strong Customer Authentication is a European Regulation      

  • It is currently in force and will be enforced from 14th September 2019
  • Applies to electronic payments and transactions - not just card payments
  • Less impact on face to face payments as Chip & PIN counts as strong customer authentication
  • For contactless transactions, SCA will be required after 5th transactions or when cumulative value exceeds €100
  • Exemptions exist but will only apply in narrowly defined scenarios
  • <5% of merchants are currently aware of RTS for SCA according to Vendorcom research
  • The immediate risk to merchants is direct revenue loss due to declined payments
  • Customer experience could deteriorate significantly
  • The enforcement date will not be extended
  • Brexit will not change the impact on merchant payment acceptance

Contact:Karen Howard

DD:01276 489626

MOB: 07725414385

Registration for this event has now closed.

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