A day in the life of payments
A casual observer of the payments industry might be forgiven for thinking that the Payments Council is comprised only of its Board: a few senior individuals making big, important strategic decisions that affect the rest of us. Yet this perception overlooks the meat and the bones of what we do and achieve on a daily basis, and our staff’s vital work with the payment schemes to keep the payments infrastructure running smoothly and safely day in, day out.
To find out more about the different ways you can pay, visit our consumer advice site payyourway.org.uk
Adrian Kamellard, Chief Executive of the Payments Council says,
It quickly becomes apparent why the work of the Payments Council is vital when you stop to consider how integral payments are to our everyday lives. A single day for anyone of us is likely to involve a range of different types of payments, all of which we depend upon to work efficiently and securely. You probably don’t give a second thought to the central systems that enable you to take cash out of an ATM; pay a gas bill by Direct Debit; book tickets over the phone using a credit or debit card; transfer money via Faster Payments to a savings account using online banking, use contactless technology on plastic card to buy a coffee; or buy something on eBay using PayPal.
If the day in question happens to be a payday you are likely to receive your salary into your bank account by Bacs Direct Credit and if you are feeling generous you may even make a charity donation by writing a cheque. And of course, it isn’t impossible that the day in question might just be a particularly momentous one where you instruct your solicitor to make a high value CHAPS payment to buy a house. No matter how you choose to pay, you expect to be able to rely on the central systems that enable all these payments to happen, and the integrity, reliability and security of these systems is at the heart of the critical and often invisible day-to-work work that happens across the Payments Council.
We work with banks, building societies and other payments providers, schemes and associations wherever collaboration is required or investment is needed while also consulting widely with consumer, charity and business representatives to understand payment users’ needs and make sure payment systems are inclusive both now and in the future. And not only do we research and deliver enhancements to existing payments, but we manage massive projects to deliver major new payment innovations for customers such as mobile payments and a faster account switching service.