UK Payments Council to offer roadmap for payment development
The U.K. Payments Council, which represents the interests of the U.K. payment industry, has released an initial report addressing the development of payment systems in the U.K. "Payments Roadmap – An Initial Report" is the Payments Council's first whack at the issue, with a full version of the report expected to be published next year.
The roadmap will explain the Payments Council's approach toward assessing how to develop payment services in the U.K., the group said. Today's initial report "sets out the analytical and consultative approach to be taken by the Payments Council to ensure that long term decisions about, and investments in, the nation's payments infrastructure are the right ones."
"Demands on our payments infrastructure have changed massively over the past two decades, and whilst our infrastructure continues to serve us well with technological innovation happening apace, it makes sense to take a step back and consider options in a systematic way," said Payments Council chief Adrian Kamellard. "The Payments Roadmap will put the needs of those who make and receive payments before those who process them — whilst of course maintaining a strong emphasis on system resilience and performance."
Along with putting forward a long-term vision for new payment technologies and infrastructure, the roadmap will also include short-term plans for delivering benefits to customers.
The Payments Council said it will be consulting with government, business, charity and consumer groups in the coming months to better understand the U.K.'s future payment needs.
The initial report can be viewed at the U.K. Payments Council's website.
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