Progressing the retail payments agenda in Parliament

The inaugural meeting of the All Party Parliamentary Group (APPG) on Open Banking and Payments was held at the Palace of Westminster on 5th February, with an address from the Trustee of the Open Banking Implementation Entity (OBIE), Imran Gulamhuseinwala OBE.

The new Group's key objectives include:

- Provide an effective forum for industry and parliamentarians to discuss and consider innovative payments and data propositions;

- Highlight how Open Banking can transform the banking sector for consumers, businesses and banks;

- Build awareness and understanding within Parliament about Open Banking as an opportunity to improve the cost and quality of payments and banking services for consumers, businesses, and government; and

- Demonstrate to parliamentarians how Open Banking and Open Finance enable increased competition, innovation and customer choice in payments and financial services.

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