Consumers can now be reassured, says Payments Council

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Consumers can now be reassured, says Payments Council

Wed 14th Oct 2009

The Payments Council has announced that consumers can now be safe in the knowledge that there is an industry standard in Europe about payments being made.

Rosalind Sellers, public affairs manager at the organisation, made her comments as the new Payment Services Regulations 2009 legislation was published, which implements the EU's Payment Services Directive in the UK.

She pointed that there is a lot of practical guidance contained within the document, so that the information can be as useful as possible to consumers.

Ms Sellers stated that the report explains important terms such as the definition of a payment account and what information retailers and customers should be given about transactions that take place.

"Customers can be reassured that all their payment service providers take a consistent and reasonable approach in what the new Payment Services Regulations mean," she said.

This month, the Payments Council also published the Financial Inclusion Policy, which aims to make sure payments systems are accessible and well designed.

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