The Payment Systems Regulator (PSR), the new UK financial watchdog that started its work in April this year, is gradually enhancing its structure and operations.
On Thursday, the new economic regulator for UK payment systems confirmed the list of members of the Payments Strategy Forum (the Forum), whose main goal is to set the strategy for innovation in payment systems.
In July this year, Ruth Evans was confirmed as the first member as she was appointed chair. Now, 21 further members of the group were confirmed, with each of them appointed for an initial two year term.
The Forum members 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 Bank of England and the Financial Conduct Authority will have Observer status within the Forum.
Below is a list of 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.
Ruth Evans, Chair of the Forum, commented:
“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.”
The Forum will meet for the first time on October 8, 2015.
To view the official announcement, click here.
To download a Q&A document about the Forum, click here.