BOE: Invites applications for payment standards panel

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boe-invites-applications-for-payment-standards-panel

BOE: Invites applications for payment standards panel

  • Pay.UK issued an open call for interest for members of the payments industry wishing to join a newly created Standards Advisory Panel
  • Eleven member panel, drawn from a wide pool of banks, vendors and users, will advise on the adoption of new payments standards in the UK
  • UK and the Payment Systems Regulator published a consultation on the adoption of a common global messaging standard, ISO 20022, across the main UK payment systems, including Chaps, and Pay
  • Formation of the Panel follows a proposal in June for the UK to introduce an ISO 20022 based ‘Common UK Credit Message’
  • Standards Advisory Panel was proposed with the role to support the Bank and Pay.UK by providing expertise on industry preferences and implications
  • Members of the Panel will have an opportunity to influence changes across wholesale and retail payments