Tuesday, 11 July 2017

It's all a bit gloomy...


Image result for londonstorm clouds

The storm clouds are gathering. Last Friday a trio of reports about the UK economy was released. This, of course, pushed the currency down, again...

It seems that May was not a great month for UK plc. The Manufacturing and Construction sectors both reported drops on the previous year. It's probably important to say that those 2 sectors make up a fifth of our economy... To make things worse our trade deficit went the wrong way too. Then there was news that house prices had increased by the lowest amount in four years. 

Economists and investors are, understandably hesitant and cautious. Brexit has caused all sorts of upset, mainly down to us not knowing what, if any, kind of deal will be struck, and what impact that will have on the economy. There are signs of a slowdown, which will bring harder times. That in turn, will mean less investment, and investors to sell the pound, causing the pound to fall further.

Just as we all thought things couldn't get worse, we ended up with a hung Parliament, causing even more uncertainty. It seems the only certainty we are likely to have is that we are in for a bumpy ride.

Having said all of that, we saw the news that Direct Debit transactions had hit another record. Bacs reported that in one day in June there were 111 million payments processed. It also reported that in 2016 there were 6 and a quarter billion payments worth £4.8 trillion processed. Eazipay has also enjoyed a record year, growing year on year since it was formed. So it's not all doom and gloom.



Monday, 19 June 2017

Brexit gets real




Image result for David Davis Brussels

Brexit is here and starting today...

David Davis MP is in Brussels right now, starting the negotiating for the UK's withdrawal from the EU.

There has been so much talk about this, whether it is a 'hard' or 'soft' Brexit, and since the election result earlier this month, everything is up in the air.

There has been a few opening shots fired from both sides, some serious, some more joking. One particular opening shot was aimed at moving the financial sector out of London - which is a bit worrying.

Last week the Eu proposed new laws forcing clearing houses located outside of the EU, to move to within the EU! This could force UK-based clearing houses to move out of the UK, hurting our economy. This, of course, was always a risk of Brexit. London is a major financial institution for the EU, inevitably, if we leave the EU, London will probably stop being a major player in the EU. The impact on the major economy is virtually impossible to predict, it is safe to say it will have a huge impact on the financial services industry though.


Image result for london financialThe financial services industry are facing short, medium and long-term uncertainties. There is a real disincentive to create jobs in London that may have to be moved in a few short years. Medium and long-term risks are the real shrinking of the financial sector. That in itself will have a significant impact on the British economy and the value of the pound. However, by leaving the EU, it opens other doors for our financial industry to work with other economies, so it isn't all gloomy. The problem is, we just don't know. Let's hope David Davis is up to the job and can sort out this mess. One thing we do need to do is stay positive and pull together to work through these uncertain times.

Monday, 22 May 2017

Spring clean your finances with Eazipay and save £345




You've cleared out the garage, tidied the loft, de-cluttered every room in the house and scrubbed the fridge. But what about your finances?

With the Spring cleaning done it's time to give some thought to your 
Financial Spring Clean and we'd like to do our bit to help by reducing our Direct Debit set-up fee.

From the 
22nd to 31st May 2017, we're taking the mop and bucket to our usual Facility Management Service set-up fee of £495.00 and scrubbing it down to just £150.00.

Three for Free
For all new customers that sign up to our Facility Management Service between the 22nd and 31st May, we'll also be offering three months' worth of reports for FREE, effective from the date the first input file is received. 

Who knew Spring cleaning had so many benefits?


Thursday, 18 May 2017

New credit and debit card service for Eazipay



We are delighted to launch our brand new Payment Gateway. This means we now have a credit and debit card solution.

We have worked hard to bring you this solution and we are really pleased with it. 


Eazipay Payment Gateway – the quick and easy way to process card payments online or via telephone.
  • Access to our MMS (Merchant Management System) and Virtual Terminal, allowing you to view and process transaction in real time.
  • Unlimited use of the Pay Button to encourage your customers to make prompt online payment
  • Supports all mainstream debit and credit cards
  • Software integration help and advice for you and your website developer
  • Choice of online and telephone card payment process
  • Safe and secure – Level 1 PCI:DSS compliance giving you and your business absolute security
  • Use of our fraud screening tools – 3D Secure, AVS, CV2
  • The most competitive Merchant tariff available – guaranteed!

Thursday, 20 April 2017

What does a snap election mean financially?


Image result for parliament

So, in a move that caught just about everyone out, Theresa May called a snap election. This means quite a bit for our little island. On top of all the usual national issues, like education, NHS, Armed forces, Social Care etc. We have Brexit. Which, given all the news, you could be forgiven there is nothing else going on politically here in the UK.

Image result for theresa may announces election

Without getting political, it did make sense for her to call the election, even though she had said she wasn't going to. If a week is a long time in politics, then 9 months must be an age... She did have to avoid the French and German elections, plus it does put a few of the critics to bed. The SNP have continually said she is unelected, so that would solve that issue.


Image result for brexit
The B word (Brexit) does loom very significantly over Mrs. May's Government. There will be all sorts of compromise needed, and she needs a larger majority to get some of those things done. On the flip side, if she doesn't end up with a majority, we could all be in for a very long drawn out mess.

As soon as the announcement was made the markets all reacted and there was a drop in the FTSE of 2%, but as is always the case the pound rose fairly sharply at the same time. Looking at all of this coldly, Mrs. May has taken a political gamble, but also a financial one. If we do have a hung parliament again, then the financial institutions, that rely on stability, will go into meltdown.

Let's hope she has made the right call.

Short term, the markets will be a little more volatile than they have been. You only have to look at most of the past General Elections to see investors get nervous and markets become unpredictable. We also don't know what is coming, surprise announcements, and manifestoes etc.

Image result for volatile markets
The polls have this a done deal as an election, but then the polls got the last election horribly wrong. However, if the polls are correct we will be in a stronger position to negotiate our withdrawal from Europe than we currently are, albeit not the strongest negotiation position ever. We have also seen some huge shock results in recent years. The European referendum was seen as a stay in win, Mr. Farage even conceded, and then results came in. The last General Election, then there is Mr. Trump. If this election goes the way of the polls, we will see some stability, but then France and Germany go to the polls. That could rock everything, we just don't know which way. The fact we don't know will mean a rather unpredictable few months, but most of the 'experts' are saying that Sterling will rise, which will have an effect on the markets.

The one thing we do know is there will be precious little other news floating around, unless Mr. Trump manages to do something that negates all of this of course.



Tuesday, 7 March 2017

What can we expect and what do we already know about the Budget?



Is it really budget time already? It seems to come around quicker and quicker. This budget we have Phillip Hammond delivering his first one. There is an awful lot going on, but he is seen as a very safe pair of hands. With Brexit looming he will need to deliver a budget that inspires confidence. He is quite fortunate to have had an economy performing better than expected - so we may see some good news, for once...

So, where will Mr. Hammond splash his extra cash? There has been some suggestion that there could be some relief for those hit the hardest by the business rate rise. The obvious place is the NHS and social care, which needs more than a bit of help. He will probably put some of it in the bank as a backstop though, with some very big unknowns on the horizon.

It seems the case these days that we get little bits of info in the lead up to the budget. So far, we have heard that there will be £500 million for skills-based training in young people. We are heading for a big shake up in the post 16 education field - and about time too.

We already know that the ISA limit is set to be raised again, up to £20 000 in the next tax year. That was part of a timetable set by George Osborne. There is also an expectation that we will hear more about the Guaranteed Growth Bond.

There was an announcement about a £20 million D-Day memorial on Normandy Beaches, which will come from the fines paid by the banks - a nice use of the money.

The income tax threshold is due to rise to £11500 in April, and the higher rate to £45 000, but we will more than likely hear about further rises, to reach the target of £12500 and £50 000.

There have been a lot of other bits and bods in the news on possible changes being introduced. One of which is National Insurance for self-employed people, currently at 9% going up to 12%.

Cigarettes will once again be in the firing line, the rumour is that there will be a minimum price per packet of £8.68. There is also a possibility that pensions tax relief may see some action.

We would like to see more help given to SMEs. The government talks a good game, but it never quite delivers. The late payment issue only increases, and costs are going up and up, putting more pressure on the backbone of our economy.

Will we see an increase in fuel duty? We hope not...

One thing for sure, this won't be the most exciting, game-changing budget we have seen. Mr. Hammond will want to keep his powder dry as Brexit starts to dominate even more...


Monday, 16 January 2017

Win with Eazipay






Following the success of our ‘new payer’ promotion last year, we’ve decided to give all our clients another chance to winwinwin, simply by signing-up new Direct Debit payers!

From the 1st – 28th February 2017, we’ll be reducing the cost of our normal ‘new Direct Debit payer’ fee. Gone is the usual £1.50 per new payer fee and in its place comes the discounted cost of just 99p. And if that wasn’t enough, when you sign up a new payer during the promotional period you’ll be entered into a prize draw to win a meal for two at Pizza Express and two cinema tickets!

It couldn’t be easier. All you have to do is keep doing what you’re doing and encourage more and more of your customers to sign-up to Direct Debit. Our new payer set-up system is fully automated so we’ll be able to access your account and see when you signed up a new payer between the 1st and 28th February.  

Just like last time, there is also an incentive for the client manager whose client wins the most new payers. SO they are quite keen for all our clients to get signing up new payers...

If you would like to know more get in touch with your client manager, or to find out how to become an Eazipay client visit www.eazipay.co.uk