News & Views - Savantor
You are here:
Home
/
Library
/
News & Views
/
Muted reaction to Paym Launch

Muted reaction to Paym Launch

Wednesday, 09 April 2014
Paym has arrived (for customers of some banks at least) – an initiative that, it is hoped, will make P2P payments in the UK easier while out and about. Apparently, though, there is some scepticism among the general public about the service regarding security, with a third of those asked in a survey by Consumer Intelligence not intending to use the service at all for this reason. Consumers learned earlier this month that their online banking web pages may not have been as secure as they had been told due to a fault in the technology – the so-called Heartbleed bug – that has existed for years. Although a competent bank would have secondary security measures in place to protect customer information, it is hard to predict how this will affect people's online habits with respect to their banking and payment behaviour, if at all. Information about Paym specifically seems to have been left mainly down to individual banks to inform their customers, which is disappointing given the fanfare that has accompanied its launch. Coverage in the media hasn't provided much in the way of consumer education either, often leaving the impression that it is just another app for your smartphone rather than a service integrated into banks' existing payment/banking mobile and web applications. Hopefully, over time, security fears will balance out as customers realise what Paym really is but some visible, consistent and more detailed information going out to the public would likely help things along.
Back to news & views
Savantor Services

Savantor Services

Savantor services are tailored to Client needs based on our core service areas

Specialist Resourcing Payments Strategy Platform Transition Operational Efficiency
Savantor Services

Job Opportunities

Consulting and contracting roles in the payments, mobile and banking arena within the UK and across Europe

View more
Savantor Services

Savantor Views

Find out more from our Savantor brochures, MarketEye back copies and Industry opinion

Collateral Market Eye News & Views Sign Up to receive MarketEye

Client Quotes

New Fuel Card Guidelines

"Savantor successfully assisted Clear2Pay by providing specialist EMV expertise."

Marie Costers, General Manager - Clear2Pay Open Test Solutions

Acquirer Transformation

"We needed a programme manager for a complex transformation who also brought a broad understanding to help stakeholders through the change. We have been delighted with the delivery and outcomes from this engagement with Savantor."

Michael Liquornik, Executive Vice President - Neovia Financial - UK

Payments Workshop Material

"Savantor helped ACI build a payments onboarding workshop for new technical staff in ACI EMEA. Their extensive experience took our outline and built a great starting presentation of industry facts that we have now customised further into a half day session that is used for all new joiners. Our Americas and APAC regions have also taken the material and customised it for their regions. A great job by Savantor has meant new joiners to ACI hit the ground running."

Richard Sanders, Principal Solution Consultant - ACI - Worldwide EMEA

Interchange Review

"Savantor did a superb job in confirming what we believed was an area of weakness. The detail we now have will enable us to agree internally what we need to do to improve structure, control and income. Nationwide management were very impressed with the quality of the Savantor team."

Adam Slater, Senior Manager - Banking - Nationwide Building Society - UK

Acquiring market insight and strategy review

"Savantor brought an independent perspective and valuable insight that enabled Rabobank to ratify options for delivery and future growth and make informed business decisions in support of our target business model. Having used Savantor on a number of strategic projects, we have no hesitation in recommending their services to others."

Evert R Fekkes, SVP Payment & Savings Services - Rabobank - Nederland

Platform Selection & RFP Management

"OP-Pohjola Group has used Savantor in both acquiring and issuing for platform/service provider research, RFI/RFP processes and subsequent contract negotiations. Savantor's approach and commitment have always been very professional and transparent. They have been of great help for the company in providing us important insights and background information beyond vendors sales speeches."

Kai Lindstrom, Head of Acquiring - OP-Services Ltd - Finland

Market Insights

"Savantor did a good job in helping us understand the dynamics of a key growth area for Trionis. Savantor's ability to listen and their degree of commitment have always impressed me. They have been of great help in providing us important market insights and I would not hesitate to work with them again in future."

Ernst Verbeek, Managing Director - Trionis - Belgium

Expert Witness

"After searching extensively for the required industry expert in a complex litigation, Savantor was identified to have the necessary industry knowledge and expertise on a range of complex issues. Savantor provided clear advice and was able to quickly hone in on the key issues, but most importantly, generating pragmatic winnable answers."

Gavin Ingram, General Counsel & VP Strategic Planning - Global Blue - Asia Pacific

Clients - Request Support

Send us a support request and one of our specialists will be in contact to assist you.

Client Area

Consultants – Upload your CV

Register your CV with us and gain access to a range of job opportunities through our online job search portal.

Consultant Area