Payment Systems Regulator names members of strategy forum
The Payment Systems Regulator, the new regulator for UK payment systems, today confirms the line-up of the Payments Strategy Forum it has set up to set the strategy for innovation in payment systems where the industry needs to work together.
As previously announced, the forum will be chaired by Ruth Evans, right, who was appointed in July. A further 21 further members of the group have been appointed for an initial two year term. They include advocates for consumers, retailers, small and medium sized businesses, corporations and government, while around half of the members are from financial services firms, including credit unions, e-money firms and high street banks.
Announcing the appointments, Evans said : “What the Forum is being asked to do will not be easy, but all of us in the group are agreed that having a unified approach to setting industry strategy is essential. 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.”
- Payments Strategy Forum members:
- 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 – chief executive, 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
- “The Forum is a key part of how we are looking to further our objective of boosting innovation in payment systems,” said Hannah Nixon, managing director of the PSR, said. “Real success requires having a long-term vision and industry strategy that can drive innovation forwards, while taking account of a range of views. I am confident that the people we have named today are equal to the task, and I’m excited to see what they can achieve.”
Nearly 90 individuals from across the payments sector and groups representing people and organisations that use payment systems applied to be on the Forum.
The forum will also create working groups of people with expertise in different areas to inform its work and help it achieve its goals. Given their expertise and in-depth knowledge of the payment systems, payment system operators have been asked to form one of these expert groups. A seat on the forum has been reserved for their representative.
The Bank of England and Financial Conduct Authority will attend the Forum as observers.