Payment Integrity

Customers depend on payment systems being reliable and secure. Payments integrity examines any factors which threaten security or reliability, and develops checks and controls to eliminate risk and prevent disruptions. 

Focus areas include: 

• Business continuity
  The World Trade Centre attack in 2001, subsequent terrorist attacks elsewhere and extreme natural events such as Hurricane Katrina have increased the focus on the payment systems risks. This work enables us to work on our resilience against large-scale disruptions, and involves us working together with the authorities and the broader financial community in the UK and internationally. The Payments Council had already developed a Code of Conduct and a Plan, even before the outbreak of flu in Mexico, to strengthen the circulation of cash that could be implemented during a pandemic.
  
  In November 2010 the Payments Council teamed up with the Financial Authorities, Bacs, FPS, LINK, VocaLink and UK Payments to hold a payments contingency exercise (PCE10); its key findings are here. 
   
• Fraud Control
  Protecting customers and members against fraud is a key activity.
  
  
  
  

 

 

 

 

 

 

 

• Above: A fake ATM front 
  
• Settlement risk control
  Together with our member banks and building societies, we have put in place legal and operational mechanisms to reduce the impact if member fails to settle what it owes to other members of the payment systems. 
• Standards and interoperability
  We work through UK and international standards bodies to agree and implement common standards across the industry. Standards enable processes to be streamlined, reducing the risk of manual errors. They also sets the foundation for tomorrow's payment systems which have to be European or global in their reach. 
• Security
  Sophisticated security measures help ensure that customer transactions are authentic and that confidentiality is maintained. In conjunction with other countries and relevant authorities the Payments Council is working with internet service providers and software companies to maintain customer protection when using internet banking.
• Audit
  Risk controls are of practical value only if their everyday use is regularly checked and procedures are monitored and improved on a regular basis.  The industry audit team provides independent assurance enabling payment systems to ensure that their controls are in place and operating effectively.