Parliament Probes Payment System Access For 1.5m Unbanked

Lawmakers in the UK will examine whether financial sector regulation could be amended to ease access to payment systems and bring the country’s 1.5m unbanked adults into the formal financial system.

An All-Party Parliamentary Group (APPG) set up to examine issues relating to UK payment systems held its inaugural meeting in Westminster last month.

The group includes representatives from the Conservative, Labour and Liberal Democrat parties, as well from payment processors and industry associations, and will focus on inclusion, regulation, innovation, identity and fraud.

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