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Our Remit

The Payments Council is the body that represents the payments industry in the UK. It also listens to a wide range of stakeholders to drive innovation in payments and implement change so that individuals and businesses have access to payments for their current and future needs. Recent projects include the launch of the Current Account Switch Service and Paym. On April 1st the Payment Systems Regulator PSR will become operational and to reflect the new regulatory regime work is underway to create a new collaborative body to replace the Payments Council later in the summer. Unlike the Payments Council the new body will not have a quasi-regulatory function but it will ensure that much of the Payments Council’s valuable work will continue. It will act as trade association for the payments industry.