Annual Report and Accounts 2018/19
This is our annual report. It covers our activity in 2018/19, our fourth operational year, and reports on how we’ve met the aims and priorities we set out in our 2017/18 annual plan.
What have we achieved over the last year?
In 2018/19, we continued to make a difference in areas that really matter to people across the UK – through engagement and collaboration, and by using our powers to deliver change.
This flexible approach has helped us make significant progress in several areas:
- our work led to the introduction of a new industry code that will see banks take responsibility for preventing authorised push payment scams and giving consumers better protection than ever before
- we began a programme of research into access to cash, and directed LINK to do it all can to fulfil its commitment to maintaining the broad geographic spread of free-to-use ATMs across the UK
- we launched our third market review to look in detail at the supply of card-acquiring services – a vital part of card payment systems
- our access programme continues to bear fruit, with more payment service providers than ever joining payment systems – stimulating competition, innovation and choice for consumers and organisations
Other significant work included:
- Our sector report on Contactless Mobile Payments (CMPs)
- Our discussion paper and event looking at data in the payments industry
- The EU Exit instrument onshoring EU Regulatory Technical Standards under the Interchange Fee Regulation
- Our consultation on Confirmation of Payee (CoP)
- Our review of our general and specific directions
What this document contains
As well as a summary of the work we completed in 2018/19, as set out above, the Annual Report also includes:
- Directors’ report
- Corporate governance statement
- Directors’ remuneration report
- Financial statements