FINANCE COMMUNITY
Our industry is in transformation, the cost of handling payments and providing credit is escalating, and profits are under increasing threat.
Through the Finance Community, BRC members can understand these dynamics and maintain pressure on Government to reduce the cost of doing business.
Members
- Finance Directors
- Payment Architects
- Treasury/Payments/Compliance Managers
- Senior Commercial Finance Managers
- Insights/CX/UX specialists
Goal |
priority |
|
| Tackle cost and enhance control in payments and consumer credit; and share robust benchmarks and insight on wider market trends | The Payments System Regulator adopts a regulatory approach to reduce scheme fees | |
Delivering for members
- Annual saving of around £500 million from the EU Interchange Fee Regulation (IFR)
- Raising card scheme fees up the regulatory agenda
- Hosting roundtables with key stakeholders on key issues (HM Treasury & the Bank of England on new notes and coins; card issuers, schemes and acquirers on PSD2; Open Banking on the Future of Payments)
- Ensuring industry readiness members were ready for new notes and coins
- Benchmarking of cash and card costs
- Shaping future proposals for Mail Order Telephone Order (MOTO) transactions
- Quarterly roundtables with the Bank of England on economic conditions
- Benchmarking and forecasting key industry metrics, including sales, prices, footfall and browsing activity
