Payments Council launches consultation on National Payments Plan

26 Nov 2007

The National Payments Plan will set the strategy for how payments will develop in the UK over the next five to ten years
The Plan covers current payment methods like plastic cards, cash and cheques and innovative technologies like contactless, pre-paid and mobile payments

The Payments Council, the organisation that sets strategy for UK payments, today (26 November) launches a public consultation on its proposals for a UK National Payments Plan.

This consultation document National Payments Plan: Consulting on change in UK payments has been developed with input and ideas from the three User Forums covering consumers, small and medium-sized enterprises and large corporates, set up by the Payments Council.

The National Payments Plan will provide a strategic framework for the development of payments in the UK over the next five to ten years. It will clearly reflect the needs of all payment service providers and users with an emphasis on innovation, efficiency, integrity and responsiveness to user requirements.

Brian Pomeroy, the Chairman of the Payments Council, said:

"Payment systems are a critical part of the UK's national infrastructure. Without them, economic life would be next to impossible. It is a testament to the reliability and efficiency of the existing systems that so little is heard about them day to day, despite the crucial role that they play.

"Payments are forecast to change significantly as innovative technologies like contactless, pre-paid and mobile payments take root in our everyday life.

"Public consultation is a crucial part of the process of developing this Plan. We are looking for feedback from as wide a variety of organisations as possible. This will help ensure that the UK payments systems remain among the most efficient, secure and innovative in the world."

ENDS

For further information contact the Payments Council press office on 020 7638 5760 or media@paymentscouncil.org.uk

A photo of Brian Pomeroy is also available.

NOTES TO EDITORS

Payments Council

The Payments Council, which was created in March 2007, is the organisation that sets strategy for UK payments. It has three core objectives:

To lead the future development of co-operative payment services in the UK in order to ensure that the payment system as a whole meets the needs of payment service providers, users and the wider economy;
To ensure that the payment system is open, accountable and transparent; and
To ensure the operational efficiency, effectiveness and integrity of payment services in the UK.

The Payments Council Board comprises 11 directors from organisations that are members of the Payments Council, alongside four independent directors and the Bank of England as an observer. It is chaired by an independent chairman, Brian Pomeroy.