Above: (Left) Richard Sharp. (Right) Chris Masters.
We are delighted to welcome two key additions to our leadership team here at Payment Assist as we gear up for some exciting transformations to help us improve our offering to businesses and their customers across the UK.
Driving this process, Richard Sharp and Chris Masters have stepped into their new roles as Chief Operating Officer and Chief Payments Officer, respectively. Their focus is on pushing innovation, building on our current payment solutions, and ensuring that Payment Assist stays ahead of the upcoming regulatory changes.
Richard Sharp – Chief Operating Officer
Richard is leading the charge on Payment Assist’s operational transformation. With 25 years of experience in consumer lending under his belt, Richard is well-versed in the ins and outs of motor finance, unsecured lending, and risk management. His experience spans major PLCs and challenger banks, so he has a broad perspective on the industry.
Overseeing a major shift towards digitalisation.
This will make processes smoother and more efficient for garages and their customers. He’s also ensuring that Payment Assist is fully prepared for upcoming FCA regulations taking effect in January 2026. Unlike some providers, we’re already partially regulated, but it’s still important that preparations are made so that we can hit the ground running next year.
“I am absolutely delighted to be joining Payment Assist at such an exciting time for the business,” Richard said. “We have ambitious growth plans, and I’m excited to bring my experience in transformation, change, and improving our customer experience, as well as implement risk management measures so that we remain compliant and efficient as we grow.”
Chris Masters – Chief Payments Officer
Chris brings 18 years of experience in the automotive industry. He’s worked with some of the biggest suppliers and partners in the sector, starting his career at Motors.co.uk before moving to iVendi, where he specialised in business development. Chris’ deep understanding of customer behaviour and purchasing trends makes him the ideal person to spearhead Payment Assist’s next-generation payment platform.
Refining payment processes.
Chris started working with payments back in 2018, and he was an early mover in the drive to help automotive businesses transition to online transactions. Now, at Payment Assist, he’s taking things further by refining payment processes and ensuring the company’s platform is at the cutting edge of technology.
“We have a fantastic foundation from our consumer finance products, but it’s our vision to develop and deliver a best-in-class payment platform for our network,” said Chris. “The motor industry is an amazing sector to work in, with lots of forward-thinking businesses; we want to support them with a solution that will be at the forefront of technology. We’ve structured our teams to create dedicated support for customers and partners, which ensures that payment processing is easy and accessible for businesses.”
What This Means for Payment Assist
Our preparation for the future is a major factor in welcoming Richard and Chris to the team. The sector is constantly evolving, as is Payment Assist, so bringing these leadership appointments on board is crucial to our journey.
How will you benefit?
- A smarter customer engagement platform. Multi-channel communications that track customer behaviour, making service interactions smoother.
- AI-powered call analysis. Automated scoring of customer interactions to improve training and service quality.
- Automated processes. Cutting down on and optimising manual tasks to boost efficiency.
- Restructured support teams. More dedicated help for customers, partners, and key accounts.
- Stronger fraud and risk management. Reinforced compliance ahead of the 2026 FCA regulation changes.
By working with expert partners like Contact Web, we’re investing in technology and refining our approach to make sure we continue to be a reliable and forward-thinking partner for businesses across the automotive sector.
Providing Stable Support
With new regulations on the horizon and financial uncertainty affecting the industry, stability matters more than ever. At Payment Assist, we’re proud to be bank-backed and have partial FCA regulations to provide you with a secure and reliable foundation for the future.
Chris summed it up: “Regulatory changes in January 2026 will require businesses in our sector to comply with stricter requirements. Payment Assist is ahead of the curve, already regulated and fully prepared to transition to full compliance.”
We Can Help Your Business Offer More
When you partner with Payment Assist, you get the ability to offer flexible, interest-free payment solutions to your customers. With fast approvals, seamless integration, and a proven track record of reliability, Payment Assist is a failsafe way to improve your service offerings.
Sign up today or get in touch with any questions – our team is here to help.
FAQ
What is FCA regulation, and why does it matter?
FCA regulation refers to the Financial Conduct Authority’s rules for businesses that provide financial services. It makes sure consumers are protected and ensures fair lending practices and financial stability. By January 2026, businesses in this sector will have to comply with stricter FCA requirements.
How are businesses preparing for the 2026 FCA regulations?
Companies in financial services are reviewing their processes, strengthening fraud prevention, improving compliance measures, and investing in technology to meet stricter regulatory requirements.
Why is digitalisation important for financial services?
Digital transformation streamlines processes, reduces manual work, and improves customer experience. It also helps businesses adapt to regulatory changes and stay competitive in a fast-moving industry.
How can AI improve customer interactions in finance?
AI-powered tools can analyse calls, automate customer engagement, detect fraud, and personalise experiences, leading to better service and more efficient operations.
