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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
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Goal |
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| 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
Community Managers
Andrew Cregan // Retail Payments & Consumer Credit Policy Adviser |
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Andrew previously led public affairs for The UK Cards Association and Financial Fraud Action UK. He spent his early career in the European Parliament working for two MEPs and then as a consultant at a global PR and public affairs firm.
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