Innovations

The importance of innovation

Innovation is important in helping to improve the efficiency and integrity of UK payment systems and the promotion of innovation is one of the Payment Council's core objectives. 

The Payments Council is committed to considering proposals for innovation in a transparent and objective manner.  Here we describe how to suggest ideas to be considered by the Payments Council and explain how they will be evaluated.

The Payments Council is concerned with the development of co-operative payment services in the UK, and innovations proposed to the Payments Council must require co‑operative action. 

Proposals will be evaluated to determine whether they provide an overall cost benefit case taking into account the interests of all stakeholders.  Proposals should be presented generically, rather than as a proprietary solution.