The Participant Advisory Council (PAC) – the body that ensures that Pay.UK understands the needs of the industry by representing the interests of participants and advising Pay.UK on the impact of its decisions on them – has today published its annual report.

The PAC seeks to improve the collaborative nature of the payments industry representing the interests of participants.

The publication is available to download at: https://www.wearepay.uk/participant-advisory-council-annual-report-published-by-pay-uk/

Key highlights of the report:

Strategic Advice:

  • Establishing Pay.UK’s role in enabling innovation

  • Recommending criteria’s across all Pay.UK’s corporate KPI’s

  • Considering Pay.UK’s relationship with Open Banking

Pay.UK’s Programmes:

  • Advising on the procurement process for the core and settlement elements of the New Payment Architecture

  • Advising on the implementation timing of the New Payment Architecture

Looking Forward:

  • Going forward the council plans to develop a longer term view on Pay.UK’s organisational structure, developing products and services, identifying industry themes and providing critical strategic advice.
  • Download the annual report at: https://www.wearepay.uk/participant-advisory-council-annual-report-published-by-pay-uk/

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