Investec, Metro Bank and TSB join the Payments Council

The Payments Council is the body with responsibility for ensuring that payment services work for all those that use them in the UK. Members have the opportunity to participate and contribute to the future strategy of payments, on topics including European and global developments such as the Single Euro Payments Area (SEPA), regulation, security and authentication, integrity, standards and innovation.

In March 2014, UK banks announced the launch of Paym, a person-to-person mobile payment service that uses mobile phone numbers to identify recipients. The Payments Council is responsible for ensuring the operation of payment systems such as ATM networks, cheque clearing, and automated clearing house (ACH) transfers in the UK.