Payments UK is being launched on 29 June to provide a voice for the UK payments industry nationally, across Europe and through out the rest of the world.
Payments UK will succeed the Payment Council, which delivered Paym, the Current Account Switch Service and Faster Payments. Payments UK will deliver secure payments that people need but, unlike the Payments Council, has no quasi-regulatory role for strategy setting.
The new body will also work closely with the Payment Systems Regulator (PSR) in its remit to promote competition and innovation across the sector.
Maurice Cleaves, chief executive at Payments UK, commented: “Payments UK will lead the collaborative drive to ensure that payments in the UK [meet] the needs of all those who make or receive them.”
“In a matter of years, the sector has been transformed from just a handful of players to many hundreds and the regulatory agenda has changed significantly.”
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