Experts from across the consumer, business, government, and not-for-profit sectors have been appointed to the new advisory council that will put the voice of users at the heart of the UK’s payment systems, the New Payment System Operator confirmed today (20 March 2018).
The 12 members of the End User Advisory Council (EUAC) [listed in full in notes to editors] have been appointed based on their ability to independently represent the interests of end-users, rather than any organisation. Representatives cover a wide spectrum of end users, ranging from consumers (including vulnerable people and groups with specific needs) through to users of payment systems including SMEs, large corporates and Government Banking Services.
The EUAC met for the first time on Thursday 15 March, with discussions focusing on how the development of the New Payments Architecture could impact end users. The EUAC will inform the strategy of the NPSO by giving an expert view on what end users need now and in the future, ensuring these needs are correctly understood and addressed in the NPSO’s work.
Anna Bradley, NPSO Independent Director and Chair of the new EUAC, said:“The high calibre of applicants for our End User Advisory Council underlines the critical importance payment systems in the lives of people and organisations right across the country. As a result we have been able to appoint a very expert Council from a very wide range of backgrounds. I look forward to working with them to put the voice of end users at the centre of NPSO decision making.”
The EUAC is one of two advisory councils with a formal role to advise and challenge the Board of the NPSO, to ensure the UK’s payment systems are run for the public good and support a vibrant UK economy. The NPSO is now seeking expressions of interest to join its other independent advisory council – the Participant Advisory Council (PAC).
The PAC will advise, comment and make recommendations on issues that are likely to be of current and future significance to participants in our payment systems (Bacs, Cheque & Credit and Faster Payments). The participant community is made up of all organisations that provide payment services to service users, including payment service providers (large, small and challengers), vendors, fintechs, software companies, third party providers, and aggregators.
Jean-Yves Rotté-Geoffroy, NPSO Independent Director and Chair of the new PAC, said: “The NPSO is being formed to build the future of the UK’s payments infrastructure by developing trusted solutions that are also open and inclusive. To succeed in a rapidly changing industry we must be externally focused. This advisory council will be the conduit for the NPSO to understand the needs of the industry, listen to its challenges, identify new opportunities and continue to be an asset for a vibrant financial sector.”