~ Robert C. Gallagher

Britain has always been at the forefront of change, perhaps because we’re on an island surrounded by water, perhaps because we are a nation of shopkeepers, or indeed a diverse, ethically mixed country. 

If you study history (not my strong suit!) in the 18th and 19th centuries Britain was at the forefront of an Industrial Revolution, which fuelled a communication and banking revolution. Trading goods (in this case cotton, iron and steel) demanded transportation, electronic communication, financiers (Banks) and stock exchanges to swap bills.

Fast forward to now, commerce still has buyers and sellers, and you can still send an electronic communication from one place to the next, although a bit faster these days! Finally, there is banking – well, banking hasn’t changed that much in the last 300 years or so. Indeed, half of the oldest continuously operating banks in the world are based here in the UK!

In 1778, a well-known Scottish Bank invented the overdraft. Back in those days bank accounts were a luxury for the rich, something that didn’t change for more than 200 years. Beautifully written calligraphic passbooks were used in branches to record customer’s deposits and withdrawals. These were replaced with plastic cards back in the 1960’s and 1970’s and today we queue outside in the wet to withdraw our hard earned money – that as they say is progress ladies and gentlemen!

But times they are a-changing, a group of industrialists, some young entrepreneurs (and some old folk like me) are, it seems, beginning to challenge the status quo in payments, we’re developing the next generation of payment solutions and systems. By trying to bridge the gap between those that can and those that cannot, Pockit serves the otherwise underserved; anyone who wants to transact (peer to peer) to anyone who wishes to be transacted with (peer to peer). 

Today, the marketplace is no longer vertical and commerce takes many forms. From large department stores and the vast array of online marketplaces to the entrepreneurial man on the street with an iPad and a mobile card reader. A technology driven change, powered by a technology switched on generation. 

There are rules of course, most of which are there to protect you, but companies like Pockit go the extra mile to remove the anxiety that is usually associated with a money transaction. Pockit do away with unnecessary paperwork, the 6 to 8 weeks (yes weeks, not days, not hours – weeks!) it takes to become a “member” of the financial system in the UK and provide customers with security and peace of mind that you usually (or up until recently perhaps), associated with your traditional high street bank.

So join us on this quiet revolution. Why not? Lots of people already have. To coin a phrase, change and Pockit go hand-in-hand!

Mathew Lane-Commercial Team-