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BPFI Welcomes Launch of National Payment Strategy (NPS)

Tuesday 15th October 2024 – Banking & Payments Federation Ireland (BPFI) welcomes today’s launch of the National Payment Strategy (NPS) by Minister for Finance, Jack Chambers. Since the National Payments Plan (NPP) was established over ten years ago, the payments landscape in Ireland, as well as globally, has evolved significantly.

We acknowledge the extensive work undertaken by the Department of Finance and industry stakeholders in developing this strategy which aims to ensure that consumer choice and confidence remain at the centre of the evolution of payments in the years ahead.

As one of the key industry stakeholders supporting the implementation of the NPS, BPFI is fully committed to delivering significant industry actions which underpin the strategy including future digital innovations, open banking payments, enhancing access to cash and supporting a resilient payment eco-system. These actions reflect our collective aim to build a future-proof, inclusive and secure payments system that serves the diverse needs of consumers and businesses alike. 

In addition, BPFI is fully engaged in driving forward our efforts to combat fraud and will be leading on a number of key actions that focus on cross-sector collaboration, information sharing and education and awareness, all of which are central to reinforcing Ireland’s resilience against financial crime.

BPFI remains dedicated to supporting an efficient, robust, secure and modern payment infrastructure that will continue to benefit both consumers and businesses across Ireland now and in the future.

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Note: Banking & Payments Federation Ireland represents the banking, payments and fintech sector in Ireland. Together with its affiliates, the Federation of International Banks in Ireland, and the Fintech & Payments Association of Ireland, BPFI has over 110 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

Contact: Fiona Murphy, Head of Communications, 087 9740046, fiona.murphy@bpfi.ie or Jillian Heffernan, Director of Communications, 087 9016880, jillian.heffernan@bpfi.ie.

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