Payments UK
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Payments UK was a trade association for financial institutions, technology firms and payment processing companies in the United Kingdom.{{cite web|title=New trade body launches|url=http://www.credittoday.co.uk/article/17845/online-news/new-trade-body-launches|website=Credit Today|publisher=Athene Publishing Limited|accessdate=4 July 2015|date=29 June 2015}}
It merged with a number of other British financial organisations in July 2017 to form UK Finance.
History
On 29 June 2015, Payments UK was launched as the successor to the Payments Council.{{cite web|title=Payments UK launches to become new voice for industry|url=http://www.paymentsuk.org.uk/news-events/news/payments-uk-launches-become-new-voice-industry|publisher=Payments UK|accessdate=3 July 2015|date=29 June 2015}}
The regulatory powers of its predecessor were transferred to the Payment Systems Regulator; it acts primarily as an industry body.{{cite news|last1=Wallace|first1=Tim|title=Big banks accused of running cartel in payments|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11706119/Big-banks-accused-of-running-cartel-in-payments.html|accessdate=4 July 2015|publisher=Daily Telegraph|date=29 June 2015}}
In November 2015 it was confirmed that Payments UK would be merged with the British Bankers' Association, the Council of Mortgage Lenders, the UK Cards Association and the Asset Based Finance Association, following a review into financial trade bodies. The resulting organisation, UK Finance, began operating in July 2017.{{cite news|title=Five City trade associations to merge|url=https://www.bbc.co.uk/news/business-34881093|accessdate=22 November 2015|publisher=BBC News|date=20 November 2015}}
Governance
Payments UK is governed by a board of directors representing a cross section of Payments UK's membership, including payment institutions, banks, technology firms and retailers.[http://www.paymentsuk.org.uk/about/governance Governance: Payments UK Board]. Retrieved 3 July 2015.
The independent chairman of its board is Gerard Lemos CMG, and its chief executive is Maurice Cleaves. Lemos and Cleaves previously held the same positions in the Payments Council.{{cite web|title=Payments Council names Barclays veteran Maurice Cleaves interim CEO|url=http://www.finextra.com/news/fullstory.aspx?newsitemid=26361|publisher=FinExtra|accessdate=4 July 2015|date=15 August 2014}}
See also
References
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External links
- [http://www.paymentsuk.org.uk/ Payments UK]
- [http://www.payyourway.org.uk Pay Your Way, Payments UK's consumer campaign]
Category:Financial services companies established in 2015
Category:Retail financial services
Category:Payment systems organizations
Category:Financial services in the United Kingdom
Category:Organizations established in 2015
Category:Banking in the United Kingdom
Category:British companies established in 2015
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