Tuesday 30th June, 2015

On Monday 29th June, The Payments Council changed to Payments UK, a new trade association set-up to provide a single, authoritative voice for the UK payments industry at home, across Europe and the globe.

The Payments Council delivered Paym (mobile payments), the Current Account Switch Service and Faster Payments initiatives.

Payments UK will work closely with the Payment Systems Regulator (PSR) in its remit to promote competition and innovation across the sector.

Maurice Cleaves, Chief Executive, Payments UK said:

"Payments UK will lead the collaborative drive to ensure that payments in the UK remain world-class, meeting 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. Payments UK is set up to enable the industry to navigate through such change."

"Over the coming months Payments UK will report on the industry’s World Class Payments project, which sets out a vision of what payments of tomorrow could look like if they are built on customers’ needs."