Payments Council responds to PSR statement: The Payments Council has welcomed the publication of the PSR's policy statement. Maurice Cleaves, Interim Chief Executive, said that:

  • a key challenge for the PSR will be to ensure regulation does not create an unnecessary barrier to further innovation; and
  • the Payments Council is working with the industry to launch a new trade association for the payments industry, which will replace the Payments Council, to be launched this summer. It will have a new role and remit, be open to a broader membership and have new governance arrangements: it will also continue the World Class Payments work.

(Source: Payment Council's Statement in Response to Publication of the PSR’s Policy Statement)