Payments UK gains three new members

Payments UK, the country’s new payment trade association has welcomed Yorkshire Building Society and Earthport, a payment service provider to its growing list of members.

In June, the Payments Council ceased to exist following the loss of its powers to the Payments Systems Regulator. Payments UK then replaced the council, committing itself to supporting the payments industry in the UK.

The trade association claims to help its members by navigating them ‘‘through changing customer requirements, new and emerging technology and industry standards and the steady stream of domestic and European regulation which the industry needs respond to.’’

Yorkshire Building Society and Earthport have joined the association as new members, while a third group, Volante Technologies, has joined Payments UK as an associate member. Payments UK now have a total of 38 full members and 23 associate members.

Maurice Cleaves, chief executive of Payments UK, has welcomed the new companies into the association.

‘‘We’re delighted that Yorkshire Building Society, Earthport and Volante Technologies have chosen to join us at what is a very exciting time in the payments industry.’’

‘‘The number of businesses looking to provide payment services to customers is growing and Payments UK is uniquely placed to bring all these players together to tackle some of the exciting challenges facing the industry.’’

‘‘All the payment innovations that have been delivered over the past decade were made possible through close cooperation of industry players, and we look forward to building upon this track record with our growing membership.’’

Not only has Payments UK gained three new members, the trade association has increased its board of directors. American Express, BNY Mellon, Metro, PayPal, Tesco Bank and Virgin Money have all joined the Payments UK board.