The Payments Council works closely with a number of payment schemes for the benefit of the UK payments industry. These include:
Each scheme has entered into a contract or other formal arrangement with the Payments Council to set out their respective rights and duties towards each other. Under the contract, schemes are required to report to the Payments Council board. The board is also able to make decisions that are binding on scheme members in order to implement its strategy. This is, however, subject to a right for both schemes and their members to apply for a formal waiver; and they will be fully consulted by the Payments Council.
- First full-year results published for new Current Account Switch Service (15 Oct 2014)
- More banks join Paym (14 Oct 2014)