Payments Council welcomes three new members
1 Feb 2010
The Payments Council today announced that Allied Irish Bank Group (UK), ING Direct and G4S Cash Services are to become full members of the Council, along with Consult Hyperion and Barron McCann Technology who are to become associate members of the Council with immediate effect. This now brings total membership to 28 members and 11 associate members.
Paul Smee, Chief Executive of the Payments Council said:
“The Payments Council is always delighted to welcome new members. Our diverse membership - which comprises an ever increasing and wide range of payment service providers, as well as independent directors - enables us to ensure that the payment system as a whole meets the needs of payment service providers, users and the wider economy.
“We look forward to working closely with our newest members as we continue to work through the National Payments Plan – our landmark publication which sets out our 10-year vision for UK payments, with the view to ensuring that payments are efficient, innovative and robust.”
ENDS
For further information, contact the press office on 020 7711 6316 or press@ukpayments.org.uk.
NOTE TO EDITORS
The Payments Council is the organisation that sets strategy for UK payments. It has been established to ensure that UK payment systems and services meet the need of users, payment service providers and the wider economy.
The Payments Council has three core objectives: to have a strategic vision for payments and lead the future development of co-operative payment services in the UK; to ensure payment systems are open, accountable and transparent; and to ensure the operational efficiency, effectiveness and integrity of payment services in the UK.
The Payments Council is a membership organisation funded by its members, with an independent chairman. It was set up in March 2007 and currently has 28 members; on the Board sit 11 banking representatives and four independent Directors as well as the chairman. Those four Directors can collectively exercise a veto over Board decisions. The principal UK payment schemes – Bacs, CHAPS and Cheque & Credit Clearing Companies, LINK Scheme as well as the UK Domestic Cheque Guarantee Card Scheme, the Belfast Bankers' Clearing Company Limited and the Currency Clearings – have entered into a contract with the Payments Council which sets out their respective rights and duties towards each other. Under the contract, schemes are required to report regularly to the Payments Council Board: the Board is able to make decisions that are binding on scheme members in order to implement its strategy. Payments Council also has 11 associate members.
AIB Group (UK) plc is a division of AIB Group, registered in the UK and regulated by the Financial Services Authority (“FSA”) it is based in two distinct markets in Northern Ireland and Great Britain with staff in 85 locations.
Under the trading name of Allied Irish Bank (GB) it operates as a Business Bank in Great Britain offering a full relationship banking proposition to business and the broader market of high value personal customers. In Northern Ireland, where it trades as First Trust Bank a full retail and business banking service is available.
Barron McCann Technology has a 20-year track record in information security, IT services and secure payment systems. The company’s product and service offerings include X-Kryptor, a market-leading dynamic VPN product range offering Government-approved, high level security facilities; PayGate, a secure payment solution; Validate, a secure transaction validation system; e-Post, an electronic document exchange system and Secure Data Services – a portfolio of services providing a complete solution to the secure management and destruction of optical, magnetic and printed data up to and including HM Government ‘Top Secret’ (IL6) level. Barron McCann Technology Ltd is based at Bemac House, Fifth Avenue, Letchworth, Herts, SG6 2HF.
Consult Hyperion is an independent IT consultancy with more than 23 years' experience of advising government, financial organisations, telecoms operators and their suppliers how to exploit new technology for payments, identity management, ticketing and other electronic transactions services. Consult Hyperion is currently advising organisations around the world on contactless payments, near-field communications (NFC), identity cards, mobile money transfers and migration strategies for MIFARE based ticketing systems.
G4S Cash Services (UK)
A subsidiary of G4S plc, G4S Cash Services is the leading UK provider of cash solutions, including secure cash transportation, ATM outsourcing solutions and outsourced till management. In the UK we deploy more than 7,000 employees and utilise a fleet of around 2,000 vehicles throughout a network of 44 cash transportation branches and 10 cash and coin centres. As the UK’s largest cash services company, G4S is the supplier of choice for thousands of businesses across the country. Our expertise lies in reducing the risk, time and cost associated with cash management. We provide real value to our customers by understanding their commercial needs and the regional environment in which they operate. Our UK-wide infrastructure supports our local operations, who deliver cash solutions and peace of mind for all types of businesses.
ING Direct is the UK’s leading direct savings bank with over 1.4m customers. It provides a range of simple, straightforward and easy to use savings, mortgage and home insurance products. Customers can either manage these online or deal with award winning call centres in Reading and Cardiff.