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Payments Council comments on announcement regarding the delay to the Faster Payments Service
Brian Pomeroy, Chairman of the Payments Council comments about today's announcement by the banking industry's to delay the launch of Faster Payments Service.
"One of the reasons we were formed was to ensure the banking industry meets its commitments to the OFT's Payment Systems Task Force, so inevitably we were very concerned to hear that one of these - faster payments - is now subject to delay.
However, we have been reassured that the delay is vital to complete the testing required and will be no more than a matter of a few months. And we agree that it is in no one's interest to launch a new payments system which has not been thoroughly tested. We look forward to receiving confirmation about when the revised launch date will be and to seeing faster payments implemented as soon as possible so that the benefits can begin to flow to users."
