The Business Relationship

The Payments Business is all about relationships between the provider of the service (i.e. Banks, FinTech’s, PSPs and Consultancies), and the end user, the customer and consumer. But what do we really mean by the term “Relationships?” I offer you my take on this abstract but essential item.

  1. In any business relationship, there is a buyer and a seller

  2. These are two distinct parties, both of whom have separate functions and responsibilities

  3. For the relationship to be successful, there are actually three parties, not two

  4.  There is: (1) the buyer (2) the seller, and (3) the actual business relationship itself

  5.  Treat the “Business Relationship” as you yourself would wish to be treated; rather like a marriage with the husband, the wife and the marriage per se.

At The Payments Business, Mike Chambers (our Chair), John Doyle (our MD), and myself together with our Membership are promoting this approach because: the stronger the relationship, the greater the trust. However, remember; “Trust” takes a long time to earn, but can be lost in minutes!

Consequently; you must hold fast to this ideal. Keep it safe for yourselves, for  your company as the buyer or seller, and your clients. But ultimately for your staff, and those of your clients, as these are the biggest assets of any business entity, which are never shown on the balance sheet.

The Payments Business adopts this methodology; and with our focus on all elements of the UK Payments Industry (i.e. Commercial, Retail, Corporate and Wholesale), our aim is to encourage all participants to do the same.

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