IDEA UK works with the Payments Forward network to discuss young people's use of new payment technologies
On Monday 02 December IDEA UK brought six of England’s most talented student debaters to the headquarters of leading city law firm Addleshaw Goddard to take part in a discussion on the role that new payment technologies play in the lives of young people.
As part of the Payments Forward network’s regular Afternoon Tea Debates series, the debaters joined an audience of over 70 senior professionals from the payments, banking and legal sectors to address the motion “This House believes that the growth of mobile and online payment services has made it harder for young people to manage their money responsibly”.
The Payments Forward network brings together technology and finance experts, lawyers and other professionals from the world of payments to discuss the future of the industry, and to find new ways to support community projects.
About the debate
Monday’s debate explored the ways in which young people, especially members of generation Y (“millennials” born between 1980 and 2000) relate to technologies designed to make paying for goods and transferring money faster and more convenient.
The debaters analysed consumers’ tendency to spend more freely and less responsibly when using online stores and electronic payment systems. They also explained how generation Y would benefit from being given access to payment systems that coupled restrictions associated with traditional forms of commerce- such as delays between choosing a product and paying for it- with the ability to flexibly limit spending.
The debaters also found time to discuss setting up standing orders in the bath, buying designer shoes and the links between herring and online safety.
Debating on Twitter
The debate’s audience live-tweeted key arguments and got involved in an energetic and detailed question and answer session after the main debate concluded.
"Impressive youth debate @iDebate @PaymentsForward on mobile payments, security & financial responsibility, lots to think about" - https://twitter.com/TraceyBleakley
"#TeaDebate well done @PaymentsForward for an interesting topic, a different format, and some super speakers" - https://twitter.com/dgwbirch
IDEA UK’s panel included David Jones, a former International Mace finalist, Richard Robinson, former head debate coach at Eton College, Belize Harrison, President of the Inner Temple Debating Society, Ben Dory, European Championships finalist, Ioan Nascu, an IDEA trainer and former Romanian national debate champion, and John Harper, a debate coach and graduate of St Andrew’s University.
IDEA UK is extremely grateful to both the Payments Forward network and its sponsors for arranging a formidable and highly engaging event. The businesspeople and professionals that IDEA encounters while collaborating with organisations like Payments Forward are central to its search for new and innovative ways to support debate education among young people around the world.
As IDEA UK continues to develop and grow, we hope to become as active in boardrooms and conference halls as we are in classrooms and community centres.