Payments:Unpacked @ Mike Chambers

Mike Chambers and guests

Payments:Unpacked shines a spotlight on the payments landscape offering a unique perspective on payments at home and abroad. Hosted by Mike Chambers who has been at the heart of payments in the UK for 40 years and joined by friends from the payments niche we inhabit. A refreshingly independent viewpoint on payments. Contact: collaboration@northeypoint.co.uk

  1. 10/14/2025

    SIBOS Predictions - Were They on the Money?

    Sibos 2025 has been and gone Just before SIBOS Owen McDonald and Vitus Rotzer from Bottomline broke down the likely hot topics for the event - from the seismic ISO 20022 migration shift and G20 goals cross-border payment goals to real-time payments expectations.  Vitus predicted a focus on upgrading legacy and siloed systems to enhance resilience and compliance, combat fraud, and transform automation in banking.  If you’re into financial messaging, digital banking, or just want to stay ahead in payments, this episode is packed with insights you won’t want to miss including: The impending ISO 20022 deadline being the beginning of the beginning How the G20’s cross border payment goals are causing a rethink of the traditional model The benefits and challenges of pre-verification at scale How real time payments are reshaping expectations What does resilience really mean for regulators and strategic priorities? Were Vitus’ predictions on the money?

    14 min

  2. 10/07/2025

    Exploring How SaaS Innovation and Data Intelligence Are Shaping Tomorrow’s Banks

    SaaS represents a shift from business structure to intelligence - by flipping the script this podcast proves that SaaS is not just about upgrading legacy technology. Hear Owen McDonald from Bottomline speaking with Amrita Ghanekar, Senior Director at BNY Treasury Services, about the forces driving payments modernisation.  From SaaS as a strategic enabler to the rise of data-sharing ecosystems and real-time architectures, Amrita shares how banks can unlock agility, personalisation, and resilience.  Learn how global trends influence innovation and why the future of banking lies in contextual intelligence and customer-centricity.

    18 min
  3. What Fiat Cars Can Teach Us About Fiat Money

    07/20/2025

    What Fiat Cars Can Teach Us About Fiat Money

    Fiat: Let it be doneWhat Fiat Cars Can Teach Us About Fiat MoneySpoiler: They’re not related - but the metaphor works beautifully. You’ve probably seen a Fiat 500 zipping down the street—small, stylish, undeniably European. But have you ever thought about what “Fiat” really means? And more importantly… What does a Fiat car have to do with fiat money? It’s a fun question because while they come from completely different worlds—one automotive, one economic—they intersect in a surprisingly useful way. Let’s take a drive through that connection.

    6 min

  4. 06/16/2025

    Elle: The Scandinavian model that payments (fortunately) never adopted

    Dining out on acronyms We use abbreviations every day - in writing, texting, note-taking, talking and, of course, in payments There are a few different categories of abbreviations, and acronyms is one of them When you shorten a phrase by using just the first letter of each word and then pronounce it as a new word, you’re using an acronym Payments aficionados often dine out on acronyms with the first letters often replacing the full phrase It’s been a while since Direct Debits were processed by Bankers Automated Clearing Services or you purchased your house with a payment sent via the Clearing House Automated Payment Service It has been many years since both Bacs and CHAPS entered our vocabulary as clear derivations of long established payment scheme names Back in 2006/7 a name was needed for a new kid on the payments block It was time to invent a name for the near real time payment system scheduled for introduction by the UK banks in May 2008. Today’s global payments naming convention would have led to this new payment type to be christened Instant Payments but 2006/7 was a long time ago and, as a deferred net settlement or Near Real Time system with a SLA time of 2 hours perhaps an “instant” moniker would not have been appropriate. For a time it looked like the new payment type might be called Immediate Payments but if “instant” didn’t work then it was unlikely that “immediate” would either. Also, an additional complication that was that Immediate Payments Limited wasn’t a company that the Payment System Operator (at the time CHAPS Clearing Company Limited) owned. So with a distinct lack of creative innovation we ended up with a Faster Payment and an acronym of FPS - with the “S” being interchangeable between Service, System and Scheme! Today, we all know Faster Payments (and don’t really care about what the “S” stands for) but did you know that, in 2008, the UK nearly ended up with what was referred to as a Scandinavian model designed to deliver a “same day Bacs1”? The term “Swedish model” is referred to as the special institutional arrangements of a society that is sometimes described as a middle way between capitalism and socialism. In the second half of the first decade of the 2000’s a different type of Swedish model was about to take centre stage for the “same day Bacs” payment type slated for launch in May 2008. In response to the demand for a “same day Bacs” payment by Payment Systems Task Force set up by the Office of Fair Trading (OFT) the industry initially offered ELLE(Early for Late and Late for Early) where a payment submitted by midday would be delivered by close of business that day and one submitted after midday would be delivered by midday the next day. However, in December 2005 the Payment Systems Task Force accepted an APACS2recommendation for a still more ambitious target on payment times to ensure access to funds within a couple of hours of any payment being made, and allowing payments to be sent 24 hours a day, 7 days a week, to be available by November 2007 (later amended to May 2008). With the ELLE acronym ceasing to be relevant and naming options including instant and immediate not really working the industry opted for the easy option of a Faster (than Bacs) Payment - along with three variations of “S”. And the rest, they say, is history - interestingly despite the “couple of hours” translating into a two hour SLA the Faster Payment Scheme has actually delivered an instant or immediate transfer of funds between the remitter and the beneficiary (albeit with a deferred net settlement happening in the background) so, perhaps, an instant payments moniker could have been used instead of defaulting to a Faster (than what?) Payment. Whilst the naming convention may leave a lot to be desired we should be thankful that sense prevailed and the “same day Bacs” design chosen was the Faster Payments Scheme / Service / System that we have enjoyed for the last 15 years - the UK would have been mush poorer with Elle.

    5 min

  5. 05/30/2025

    The Billion-Pound Scam

    🎧 The Billion-Pound Scam: Fraud in 2024 In 2024, fraudsters stole over £1.17 billion across the UK — and the threat isn’t slowing down. In this episode, we unpack the latest UK Finance fraud report and explore: The rise in unauthorised fraud cases How banks stopped £1.45 billion in attempted theft The evolving danger of APP (Authorised Push Payment) scams New reimbursement rules — and what they mean for you The link between fraud and organised crime Whether you’re a consumer, business, or payments professional — this is essential listening.

    6 min

  6. 05/23/2025

    What's a Bank Holiday, Anyway?

    On Monday make sure you raise a glass to Sir John Lubbock the patron saint of banking What’s a Bank Holiday, Anyway? Ever wondered why they’re called Bank Holidays—or why you’re suddenly seeing Public Holidays in your calendar? In this episode of Payments:Unpacked, we dive into the surprisingly fascinating history of the UK’s most beloved days off.  From the Victorian-era beginnings of the Bank Holidays Act of 1871, to the rise of the more inclusive term “Public Holiday,” we explore how a few official Mondays off became part of the national rhythm. You’ll learn: Who Sir John Lubbock was and why UK bankers should probably have his portrait up in the office Why not all “Bank Holidays” are created equal How different regions of the UK celebrate differently And why these days off are more than just long weekends—they’re cultural touchpoints So whether you’re tuning in from a picnic blanket, a motorway queue, or the office (oops), hit play and find out what a Bank Holiday really is—and how it came to be. Don’t forget to subscribe, rate, and share this episode with a fellow holiday lover.  Because knowledge, like Bank Holidays, is better when shared. Sign up for the free Payments:Unpacked newsletter: With thousands of reads each week the Payments:Unpacked newsletter is the best (free) payments read out there – to subscribe head over to: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.northeypoint.substack.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Check out our blog:  You’ll find the best payments stories in our blog – head over to: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.northeypoint.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Follow on social: LinkedIn:  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.linkedin.com/_mike_chambers_⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.twitter.com/_mike_chambers_⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ You Tube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.youtube.com/_mike_chambers_⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ TikTok: @payments_unpacked Email: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠payments_unpacked@northeypoint.co.uk⁠⁠⁠⁠

    7 min

  7. 05/08/2025

    Baked Beans, Spaghetti Hoops & Macaroni Cheese

    Baked Beans, Spaghetti Hoops & Macaroni Cheese A Light Hearted Tinned Food Tour of UK Payment Systems 📌 Episode Summary: In this fun and food-themed episode of Payments:Unpacked, host Mike Chambers serves up a light-hearted comparison of the UK’s most common payment schemes — Faster Payments, Bacs, and the cheque clearing system — using a trio of classic tinned foods.  From the future-ready baked beans of Faster Payments to the reliable-but-slow Spaghetti Hoops of Bacs, and the dusty shelf-sitter Macaroni Cheese that is the cheque, we explore how Britain’s financial infrastructure works — and which tins you want in your cupboard. Whether you're a finance nerd or just here for the beans, this episode will leave you with a smile and a better understanding of how money moves in the UK. ⏱️ Episode Timestamps: 00:00 – IntroWhy we're comparing financial infrastructure to tinned food (and why it totally works). 01:14 – Faster Payments = Baked BeansSpeedy, reliable, and always ready when you are. 02:41 – Bacs = Spaghetti HoopsSlightly dated, slightly slow, but still gets the job done. 03:40 – Cheques = Tinned Macaroni CheeseTechnically still edible, but best left untouched unless desperate. 04:39 – Which Tin (Payment System) Is Right for You?A quick guide on when to use each option. 05:37 – Final Thoughts + OutroBeans are the future. Cheques, not so much. 🧠 Key Takeaways: Faster Payments is fast, available 24/7, and ideal for real-time transfers. Bacs is reliable for scheduled payments like salaries and direct debits, but takes 3 days. Cheque clearing is outdated, slow, and fading from everyday use. Each system has its place — but only one feels like it belongs in the 21st century 🛒 Final Thoughts: What’s In Your Financial Cupboard? The next time you reach for a tin — or make a bank transfer — ask yourself:Am I moving money like it’s 2025… or 1975? Because the baked beans of banking are hot, fast, and ready. Just like your money should be. Sign up for the free Payments:Unpacked newsletter: With thousands of reads each week the Payments:Unpacked newsletter is the best (free) payments read out there – to subscribe head over to: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.northeypoint.substack.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Check out our blog:  You’ll find the best payments stories in our blog – head over to: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.northeypoint.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Follow on social: LinkedIn:  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.linkedin.com/_mike_chambers_⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.twitter.com/_mike_chambers_⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ You Tube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.youtube.com/_mike_chambers_⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ TikTok: @payments_unpacked Email: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠payments_unpacked@northeypoint.co.uk⁠⁠⁠

    6 min
  8. Coins Of The Crown: The Hidden Meaning Behind Maundy Money

    04/17/2025

    Coins Of The Crown: The Hidden Meaning Behind Maundy Money

    Coins Of The Crown: The Hidden Meaning Behind Maundy Money Today, we’re diving into a centuries-old tradition that still sparkles with silver and symbolism: Maundy Money. It’s Holy Week in the United Kingdom, and the Thursday before Easter is no ordinary day—it’s Maundy Thursday.  On this day, something a little unexpected happens. The King—yes, King Charles III now—hands out special coins to elderly people in a cathedral ceremony filled with pageantry, prayers, and purpose. What is this “Maundy Money,” and why has it been part of royal life for nearly a thousand years? Let’s set the scene. Let’s rewind the clock—way, way back—to the 13th century. Sign up for the free Payments:Unpacked newsletter: With thousands of reads each week the Payments:Unpacked newsletter is the best (free) payments read out there – to subscribe head over to: ⁠⁠⁠⁠⁠⁠⁠⁠⁠www.northeypoint.substack.com⁠⁠⁠⁠⁠⁠⁠⁠⁠ Check out our blog:  You’ll find the best payments stories in our blog – head over to: ⁠⁠⁠⁠⁠⁠⁠⁠⁠www.northeypoint.com⁠⁠⁠⁠⁠⁠⁠⁠⁠ Follow on social: LinkedIn:  ⁠⁠⁠⁠⁠⁠⁠⁠⁠www.linkedin.com/_mike_chambers_⁠⁠⁠⁠⁠⁠⁠⁠⁠ Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠www.twitter.com/_mike_chambers_⁠⁠⁠⁠⁠⁠⁠⁠⁠ You Tube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠www.youtube.com/_mike_chambers_⁠⁠⁠⁠⁠⁠⁠⁠⁠ TikTok: @payments_unpacked Email: ⁠⁠⁠⁠⁠⁠⁠⁠⁠payments_unpacked@northeypoint.co.uk⁠⁠

    4 min
See All (43)

Trailer

About

Payments:Unpacked shines a spotlight on the payments landscape offering a unique perspective on payments at home and abroad. Hosted by Mike Chambers who has been at the heart of payments in the UK for 40 years and joined by friends from the payments niche we inhabit. A refreshingly independent viewpoint on payments. Contact: collaboration@northeypoint.co.uk

Information