On 2 October 2015, the Payment Systems Regulator published draft terms of reference setting out the objectives, scope and role of the Payments Strategy Forum, names and biographies of the forum members and an agenda for the first meeting.

What this means for you

The PSR established the Payments Strategy Forum to provide co-ordination where collective action can promote innovation or competition in the interests of payment service users, which is contrasted with unilateral innovation as a source of competitive advantage. Now the Forum has been established it will lead an ongoing process to identify, prioritise and develop strategic initiatives for the industry.