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MANCHESTER FINTECH COMMITS TO TAKING THE STING OUT OF COMPLEX FINANCE AND PAYMENTS SECTOR.

  • Simplifying the complexity around new regulations
  • Producing accessible guidance and delivering user-friendly products
  • Releasing ‘The Little Book of Payment Horrors’, a humorous collection of real-life payment misadventures
Anish Kapoor
Anish Kapoor

AccessPay is embarking on a mission to guide British businesses in what is set to be a rollercoaster year for the banking and finance sector.

The Manchester-based firm, a specialist in cloud-based payments technology, has launched its new online hub Resource Centre aimed at guiding businesses, banks and consumers through the minefield of changes that are afoot.

With new legislation on the horizon, including the EU payments directive PSD2 and the Open Banking initiative, there is set to be an overhaul on the movement of money, the ease of banking and the way payments are made and processed for both businesses and consumers.

The implementation and complexity of some of these new regulations have left some anxious about whether they are adequately informed to cope with this renovation of payments procedure.

AccessPay has championed the evolution of payments and finance since its establishment in 2012, and central to its strategy is the role that technology can play in helping mitigate risk and help drive efficiencies through payments technology. The jewel in the crown of its newly launched Resource Centre is its self-penned ‘The Little Book of Payment Horrors’, a compendium of avoidable, real-life, ‘worst-case scenarios’ that have brought businesses to their knees.

With chapters entitled ‘What to do to stop yourself thieving…from yourself’ (when quick-thinking residents reversed charged the Direct Debit on their council tax), through to ‘How to use decimal points to stop your employees having the time of their lives’, (when a construction worker walked home with £40,000 rather than £400 owed to a spreadsheet error). The book is a light-hearted approach to helping businesses shore up their finance and accounting practices through technology.

Anish Kapoor, CEO of AccessPay said, “The changes in the market are largely welcome and, if implemented as intended, should see organisations able to make and process payments with confidence and speed.

“However, organisations will of course need to evolve, embrace and adapt to these changes.  We are keen to be at the forefront of educating and preparing leaders for the market and champion an approach that supports both business, banks and consumers.

“We are keen to provide a little levity to an industry famed for complex regulation frameworks and laborious detail. ’The Little Book of Payment Horrors’, which describes real events in a humorous and playful tone, is testament to that.”

Via AccessPay’s new Resource Centre – a series of blogs, infographics and webinars, – the business is hoping to take the proverbial sting out of the tail of current challenges and those approaching, ensuring organisation can adapts to the new regulations successfully.