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UK, US governments, businesses set to create P20 payments initiative

Friday 3 February 2017 08:19 CET | News

The UK and the US government, business, and other leaders have announced formal creation of the P20 and its inaugural meeting to be held in Autumn 2017, the first transatlantic payments initiative of its kind.

The P20 will convene 20 of leaders in the payments industry and UK and US government officials and regulators annually to to promote growth of the industry globally through improved regulatory frameworks, economic development, innovation, financial inclusion and overall cooperation.

The P20 will serve as a forum for regulatory and compliance frameworks, cybersecurity, innovation and how fintech can achieve greater financial inclusion for people in developing economies around the world.

Proposed goals for the inaugural conference will identify industry and policy challenges requiring attention during the next 10 years, and develop an agenda of short- and long-term goals, and will create a vision and framework for working together to promote financial inclusion through regulatory frameworks, improved security and innovation.

Atlanta processes more than 70% of all payments in the US each year.


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Keywords: UK, US, governments, businesses, P20, payment initiative, payments
Categories: Payments & Commerce
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Countries: World
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