The Payments Council has today (9th November 2011) opened a public consultation on its performance and the way it is run, as part of a comprehensive review led by Payments Council Independent Director, Professor Martin Cave, to be published in the spring.
The Payments Council was set up to ensure that UK payment systems and services meet the needs of payment service providers, users and the wider economy. The review will examine the Payment Council's overall operation, the way in which it consults, how it engages with different stakeholder groups, the overall level of transparency in its decision making, and the outcomes of its actions.
To ensure payment systems work for everyone, this consultation provides the opportunity for individuals and organisations with an interest in the payments industry to contribute frankly and openly to the review.
Following the first review of the Payments Council by the Office of Fair Trading (OFT) in 2009 after two years of operation, the Council is committed to carrying out an effective review every two years, to assess its performance and governance structure and ensure both are still fit for purpose.
Commenting, Professor Cave said: "The purpose of the Payments Council is to ensure that the UK's citizens, businesses and other organisations have access to a broad range of modern and efficient payment methods that meet their needs, and to ensure that they are confident in using them.
"This review is an important mechanism in assessing the performance of the Payments Council, and ensuring there is transparency and accountability in the way the Council makes decisions. I would encourage anybody with an interest in the payments industry to respond to the consultation".
There are a number of ways that individuals or organisations can contribute to the consultation. The consultation questionnaire is available to download from the Payments Council website and there is also a shorter version available to complete online. As part of the wider governance review, a series of consultative events and meetings will be taking place.
The deadline for responses is 30th November 2011.