An independent study commissioned by the Payments Council was undertaken by Policis and Toynbee Hall, which aimed to understand the needs of low-income consumers and whether they face specific barriers to the use of electronic payment services. The report rested on an evidence review and secondary analysis of both the continuous tracking survey of the use of a wide range of payment services and data on the use of payment and banking services.

What this means for you

The Payments Council is now using the results of the research to assess whether any improvements can be made to address the barriers identified in this research for low-income consumers. The next stage will see the Payments Council engage with a range of billers and service providers on their requirements for regular payments and potential solution. Electronic payment service providers may also identify the significant barriers and potential improvements set out so as to expand their business to low-income consumers.