I will hazard a guess that most of our clients are in the dark, despite messages from providers, where there have been messages. Certainly reading up on one lot of bumpf from one provider Im none the wiser.
Do we have a duty of care to tell clients?
Or are we then in danger of even more spoonfeeding than we already have to do?
Thinking more of the clients who say use the Go Cardless, Stripe, Apple pay type products I guess, rather than the larger clients or ones using the like of Worldpay, Barclaycard etc.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Payment system suppliers have been moving towards using two factor authentication anyway. It is worth being aware of it, but really the suppliers should sort it otherwise they will be preventing from handling payments.
Only issue is that those suppliers are my clients, some of whom need hand holding. But I think this is one where I will just say 'speak to your provider' and let them get on with it, although in the main I've not heard any murmurings and it starts mid September. But I've enough CPD and reading to do as it is.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
I've not heard of this til now but on a consumer level I have been made aware by my bank that I may have to provide a code (sent to my mobile) when doing transactions.
Do we have a duty of care? No, I don't think so but I see no problem in making them aware, as I will do with the one client this affects, but had I not been aware, I wouldn't feel that I should have been. It isn't an accountancy related issue, and has you say, we have enough to keep up to date with as it is.
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
I don't think you have a duty of care, but it is worth understanding the principles (viz that the card details alone are not enough apart from for contactless transactions and those under £30 - including where there are multiple transactions under £30 that add up to a sum) as they will have to deal with their customers about it. Some of the exceptions are mildly complex, but might be useful to clients.
Only issue is that those suppliers are my clients,
When I said suppliers I meant suppliers (or providers) of payment systems. It is in the end their job to make sure that the systems work.
-- Edited by johnhemming on Tuesday 27th of August 2019 01:33:10 PM
Lol. I did wonder initially if you meant the providers. Trouble is they seem to be just dumping on clients with 'you must get your systems set up by 14 Sep or else' type messages.
I did read (try to read) a missive from Worldpay. What a total pile of complete double dutch. I might take another look, as I can think of one client who that will completely bypass. This client I do offer additional services, outwith bookkeeping/Accountancy, so probably a good idea and normally I like to keep abreast of changes in the finance industry generally. I think Im talking myself into this, oops. My view usually - keep them in business, keeps me in business.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
It strikes me that there is potentially some additional services here. If you want me to look at anything I am happy to do so (no charge). I have done a bit of work coding to implement Worldpay.
Many of the systems that people use nowadays (particularly for smaller businesses) are mainly hosted by the payment systems suppliers/providers. They need to do most of the work.
I am taking chlidren to see their grandparents for the rest of this week so it would be better next week anyway. I will be contactable this week, but Tom and the team are handling Vat Direct support for the rest of the week.
