In July 2012, HM Treasury published the document: Setting the strategy for UK Payments as part of a consultation on the best models for the strategy development of the payment industry. The document outlined three options:
- improve the functioning of the existing Payments Council,
- introduce a new public body to set strategy across the UK payments industry: the Payments Strategy Board,
- introduce a utility type statutory regulator for the payments industry.
The EMA response to the consultation outlined that the representation of innovative payment service providers can be improved considerably. …