Mobile and Contactless Payments Top UK Industry Wish List

Publié le 16 mai 2008 par ePaynews.com

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The UK Payments Council has published a plan to promote standardized electronic payments, financial inclusion, and an end to paper checks.

The National Payment Plan was drawn up as a result of a consultation process involving members of the UK payment industry, including APACS , the Bank of England, and individual banks. The Council was set up in 2007 with the aim of crafting a strategy for the development of payments in the UK.

The Plan states that the end of check clearing is a priority area for the UK payment industry and suggests that the year 2018 could be a likely target for accomplishing this goal. However, the date is subject to alternative forms of payment being available to all types of check user, it says.

Mobile payments is an important innovation, the Plan says, with potential to help in a number of areas, including financial inclusion and the move away from checks.

“We will aim to ensure that mobile payments initiatives are based on international standards and that solutions are open and interoperable,” the Plan states. “More specifically, we will continue to investigate the potential to develop a collaborative bank account to bank account mobile payment service.”

The Plan also underlines the need for contactless card standards. “We will ask the card schemes to work together with other stakeholders, including transport authorities, to harmonize standards for contactless cards,” it states.