Cheques: Payments Council to be curbed

The government is punishing the Payments Council for trying to phase out cheques, but failing to come up with an alternative.The Council will lose its power to govern the payments systems for UK banks, under new proposals.The government wants to hand the Councils powers to a new body overseen by the new Financial Conduct Authority.The change would make banking “more responsive” to the needs of its users, the Treasury said.

via BBC News – Cheques: Payments Council to be curbed.

Perhaps the Payment Council should look at the world of prepaid for some ideas?

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