Payment System Operator Delivery Group
What is the Payment System Operator Delivery Group?
The Payment System Operator Delivery Group (PSODG) was established by the Payment Systems Regulator (PSR) and Bank of England in October 2016. It was set up to consider key issues relating to the potential consolidation of the governance of three payment system operators (PSOs): Bacs Payment Schemes Ltd (BPSL), Cheque and Credit Clearing Company Limited (C&CCCL) and the Faster Payments Scheme Ltd (FPSL).
This proposed consolidation was one of the key elements put forward in the Payments Strategy Forum’s (The Forum’s) final strategy. The consolidation of the PSOs was part of a suite of measures proposed by the Forum aimed at reducing the complexity and costs of having multiple payment systems.
The PSODG and its membership included senior personnel from the respective payment system operators and the Forum. Its objective was to develop a report setting out its recommendations on key characteristics of the proposed ‘New Payment System Operator' (NPSO) entity, and the implementation plan to allow for consolidation to be substantially completed by the end of 2017.
On 31 March 2017, the PSODG submitted its recommendations and implementation plan to the PSR and Bank of England.
As stated in the PSODG’s Terms of Reference, the PSR and the Bank of England each have an interest in ensuring the PSODG’s recommendations are consistent with their respective objectives and that they are designed and delivered effectively. As such, the PSR and the Bank of England will now consider the recommendations and implementation plan with regard to their objectives.
A further announcement is expected near the end of April or start of May.
Robert Stansbury is the independent chair for the PSODG. Robert has been a senior advisor at the Prudential Regulation Authority (PRA) and Financial Services Authority (FSA), and is currently a senior advisor at the Banking Standards Board.
Other appointees to the seven-strong group are the chairpersons of the three PSOs involved in the potential consolidation and three additional representatives from the Forum.
The members are:
- Robert Stansbury, Independent chair
- David Rigney, Bacs
- Jane Bevis, C&CCC
- Nick Caplan, FPS
- Russell Saunders, Payments Strategy Forum (large PSP rep)
- Becky Clements, Payments Strategy Forum (small and medium PSP rep)
- Faith Reynolds, Payments Strategy Forum (end users rep)
You can find a register of the members’ other interests here:
This webpage is being used by the PSODG to publish summaries of all its meetings. These documents can be found at the links below:
- 1 November 2016
- 22 November 2016
- 2 December 2016
- 20 December 2016
- 10 January 2017
- 24 January 2017
- 7 February 2017
- 28 February 2017
- 7 March 2017
- 14 March 2017
- 21 March 2017
- 28 March 2017
Presentations and other materials
In this section the PSODG publishes presentations it has given and other useful materials.