On June 29, 2015 the Payments Council relaunched as Payments UK, a trade association that aims to provide a single, authoritative voice for the UK payments industry at home, across Europe and the globe. Payments UK will work closely with the Payment Systems Regulator in its remit to promote competition and innovation across the sector. Its top priorities include creating an instant payment system for euros, improving customer identification processes and working collaboratively to implement the Payment Services Directive II. The association will launch a newsletter and other industry publications later in 2015.
The representative body also launched Access to Payment Systems, a web-based information hub displaying options for direct and indirect access to the payment schemes for any organisation that needs to access to the UK’s payments systems.
What this means for you
Payments UK will work with stakeholders to share payments knowledge and expertise and it will continue to offer best practice guidelines and industry statistics. It will work closely with payments organisations and regulators including The UK Cards Association, Payment System Operators, the FCA and the PSR on industry issues.