Consultation response – opening up UK payments

A consultation response to the Government consultation, “Setting the strategy for UK payments”. This response addresses specific questions raised in the consultation as well as outlining why Option 3 of Setting the Strategy is the best way to achieve Government aims. There is special focus in this response on how those government aims are best interpreted in terms of the principles of financial inclusion.

“Setting the Strategy”, published in July 2012, set out the options for improving the way that payments strategy is made in the UK. This was in response to the Treasury Select Committee’s report into the decision of the Payments Council – now ultimately reversed – to set a target date of 2018 for the abolition of cheques. This decision was originally made with little to no consultation of end users and was badly communicated to them.

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