Building The Future of Payments by Mike Kelly

A newsletter detailing my thoughts from the trenches whilst building the future of global payments. I will be covering all aspects; market analysis, product design, controlling risk, applied cryptography, regulation, etc.

The hottest Substack posts of Building The Future of Payments by Mike Kelly

And their main takeaways

Introducing TapToAuth: Bringing the Familiarity of Contactless Payments to Open Banking

59 implied HN points • 24 Jan 24

TapToAuth combines contactless payments with the advantages of open banking, offering a new, secure, and cost-effective solution.
This innovation minimizes fraud, reduces digital payment costs by enabling instant fund transfers, and enhances security with a cryptographically secured NFC protocol.
TapToAuth not only provides a seamless customer experience but also integrates loyalty programs and digital receipts, transforming every transaction into an engagement opportunity for retailers.

The card payments you use every day are stunting economic growth - it's time for an upgrade

1 HN point • 21 Jun 24

💰 Finance Payments Fees Fraud Economic Growth

Card payments are outdated and inefficient, hindering economic growth by increasing costs, slowing transactions, and exposing to fraud.
Card transaction fees act as a hidden sales tax, increasing prices for everyone and placing burdens on local businesses.
Moving beyond traditional card systems to modern payment methods can lead to improved user experiences, reduced fees, and increased economic growth.

A North Star For The Future Of UK Payments: The Layered Payments Architecture

0 implied HN points • 15 Dec 23

💰 Finance Payments Innovation Architecture

The UK has been a leader in financial innovation, notably with Faster Payments and Open Banking, demonstrating expertise in creating efficient and secure payment solutions.
A Layered Payment Architecture in the UK would involve Instant Settlement Rails, Account and Identity Management, and Overlay Services and Networks to promote economic growth and reduce transactional costs.
The strategic benefits of the Layered Approach include robust security, economic empowerment, future-ready infrastructure, and reinforcing the UK's global leadership in fintech innovation.