The goal of the Forum is to set the strategy for innovation in payment systems where the industry needs to work together.
In July Ruth Evans was confirmed as the first member when she was appointed chair. Now, 21 further members of the group can be confirmed.
The individuals have been appointed jointly by the PSR and the Forum chair for an initial two year term. They include advocates for consumers, retailers, small and medium sized businesses, corporations, government, as well as individuals who are experienced providers of payment services, from credit unions, e-money firms and high street banks.
The Forum will also create working groups of people with expertise in different areas to inform its work and help it achieve its goals. Given their expertise and in-depth knowledge of the payment systems, payment system operators have been asked to form one of these expert groups. A seat on the Forum has been reserved for their representative.
Payments Strategy Forum members:
- Ruth Evans (Chair)
- Adam Marshall – Executive Director, Policy and External Affairs, British Chambers of Commerce
- Alan Smith – Head of Payments and Banking Services, Post Office
- Becky Clements – Head of Payment Operations, Metro Bank
- Carl Pheasey – Head of Policy, Money Advice Service
- Carlos Sanchez – CEO, Orwell Group
- Faith Reynolds – Member, Financial Services Consumer Panel
- John Hackett – Chief Operating Officer, HSBC
- Katherine Horrell – Group Treasurer, Centrica
- Lisa Felton – Head of Consumer Policy, Vodafone
- Marion King – Group Director of Payments, RBS
- Mark Lyonette – Chief Executive, Cornerstone Mutual Services
- Michael Maier – Chief Operating Officer, Fidor Bank
- Mike Smith – Commercial Director, Raphaels Bank
- Neil Lover – Head of Payments and Financial Crime, Coventry Building Society
- Nick Davies – Richer Data Strategy Lead, DWP
- Otto Benz – Director, Strategic Payments, Virgin Money
- Philip McHugh – Chief Executive, Barclaycard Business Solutions
- Russell Saunders – Managing Director, Global Payments, Lloyds Banking Group
- Ruth Milligan – Retail Finance Policy Adviser, British Retail Consortium Retailers
- Ruth Wandhofer – Global Head for Regulatory and Market Strategy, Citi Bank
- Thaer Sabri – Chief Executive, Electronic Money Association
- Representative (TBC) of a payment system operators working group
Hannah Nixon, Managing Director of the PSR, said:
“The Forum is a key part of how we are looking to further our objective of boosting innovation in payment systems.
“Real success requires having a long-term vision and industry strategy that can drive innovation forwards, while taking account of a range of views. I am confident that the people we have named today are equal to the task, and I’m excited to see what they can achieve.”
Ruth Evans, Chair of the Forum, added:
“This is an impressive team sheet boasting some fine brains with decades of experience.
“What the Forum is being asked to do will not be easy, but all of us in the group are agreed that having a unified approach to setting industry strategy is essential.
“We have been given the tools, the independence, and now we have the experience, to help us deliver some truly meaningful results. I’m very much looking forward to us all sitting down as the Payments Strategy Forum for the first time and starting work.”
Nearly 90 individuals from across the payments sector and groups representing people and organisations that use payment systems applied to be on the Forum.
The Forum will be a place where the voice of the consumer can be heard so we continue to be interested in hearing from consumers or consumer representatives with an interest in the future of payments. If you are interested in helping the Forum in this way, please email us: Forum@psr.org.uk.
The Forum will meet for the first time on 8 October 2015.
What is the Payments Strategy Forum and why has it been created? Read more on our website.
1. The Bank of England and Financial Conduct Authority will attend the Forum as observers.
2. In July 2015 we confirmed that Ruth Evans would be the chair of the Forum. We also published a call for members and draft terms of reference for the group.
3. Earlier in July 2015 we also published an update on the Forum and summarised work completed so far. We produced a factsheet that answers some common questions about the Forum.
4. The PSR was incorporated on 1 April 2014 and became fully operational on 1 April 2015.
5. The PSR has three statutory objectives: to promote effective competition in the markets for payment systems and for services provided by those systems, including between operators, payment service providers and also infrastructure providers, in the interest of service-users; to promote the development of innovation in payment systems, in particular the infrastructure used to operate payment systems, in the interest of service-users; and to ensure that payment systems are operated and developed in a way that considers and promotes the interests of service-users.
6. The PSR is responsible for the regulation of designated payment systems and all participants in those payment systems (payment service providers, operators and infrastructure providers to those payment systems).
7. The PSR website.