The top five payments trends we’ve seen in 2015

2015 was a busy year in the payments industry with the introduction of new initiatives and concepts. It was a year of new ideas and innovation. We can see the world of payments is changing and rapidly and 2015 showed us the direction we will be taking in years to come.

With such a wealth of information this is an overview blog of the payments headlines for the year. Over the next couple of weeks we’ll be publishing more blogs that add a little more depth to the key payments topics for 2015. For us these were the top payments trends:

  1. Blockchain moved out from the shadow of bitcoin
    Banks started to consider the potential for blockchain, particularly for payments clearing, blockchain in payments became a big topic for discussion.
  2. Establishing the need for Real Time Payments
    While the UK’s Faster Payments system has been in action for a number of years, 2015 was the year Australia, the USA, Sri-Lanka and many European countries built their plans for Real Time Payments.
  3. Mobile Payments Proliferation
    With Apple, Samsung and Android all joining the market, mobile payments took a leap forwards – but how will the different standards they operate on affect adoption?  Will people gravitate to one supplier?
  4. Opening up UK Clearing
    The Payment Service Regulator has highlighted the need to improve access to clearing systems – could this mean more competition in the consumer banking market?
  5. All Change for Interchange Fees
    2015 saw the capping of interchange fees – we’ll be taking a look at the consequences of this move.

And in other 2015 news…

SEPA was once more a hot topic with the 2016 SEPA deadlines approaching. Meanwhile the use of XML 20220, already the SEPA standard, continued its progress towards becoming a truly global standard. In the UK the Payment Services Regulator came into being and internet security became a big issue with the requirement to upgrade systems ready for TLS 1.1 and SHA-2 becoming the minimum standard next year.


So that’s the headlines – please check back in the coming days as we go into more detail on the 2015 hot topics.