Why Payment Innovation Fails

About this episode

Mike Hutchison discusses the evolution of UK payments and the reasons behind the success of direct debit compared to newer payment models.

Mike Hutchison discusses the evolution of UK payments, centred on the enduring strength of direct debit and the practical implications of newer payment models such as open banking, pay by bank and variable recurring payments. He examines why direct debit has remained so successful, highlighting its strong consumer understanding, low-cost economics, dependable performance and disciplined brand execution. The discussion also explores where newer payment methods add value, particular...

People in this episode

Guest: Mike Hutchison

Topics covered

• payment innovation
• direct debit
• open banking
• payment models
• consumer understanding
• financial technology

Keywords

• payment innovation
• direct debit
• open banking
• financial technology
• consumer understanding
• payment models

Mentioned in this episode

Organizations: UK payments, open banking, pay by bank, variable recurring payments, direct debit

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