Transcript David Steed, PayPoint, UK

Replacing Cash
David Steed
CTO PayPoint plc
Payment Myths
• Things change slowly in payments
• Change in payment behaviour is
consumer led
• Cash will be around forever
How do you change consumer payment
behaviour?
Volume of
Transactions
1990
2010
Credit Card
0.6bn
2bn
Personal
Cheques
4bn
0.8bn
PayPoint
0
0.6bn
How have we moved consumer
behaviour so fast?
Bill Payments
• What does the recipient want – low cost and
universality
• Lowest cost payment is Direct Debit
• Universality is cash – how do you make cash
cheap – don’t collect it.
• How do you change customers’ behaviour fast –
mandate it
Mobile Phone Payments
• Cash cost in car parking is very high
• Mobile parking revenue is much higher
• Electronic enforcement costs lower
Why won’t cash be around forever?