02 February 2022

New Payment Council holds inaugural meeting

A newly established Payment Council operating on behalf of the Central Bank of Iceland held its inaugural meeting on Wednesday 2 February 2022.

The Payment Council is a forum for Government authorities, market participants, and other stakeholders to engage in discussion, consultation, and exchange of information on matters relating to payment intermediation and financial market infrastructure. Its aims are to elicit the view of those parties that use financial market infrastructure and have interests at stake in it, and to support development and innovation in payment intermediation.

The following bodies are represented in the Council: the Consumers' Union of Iceland, Federation of Trade and Services, Icelandic Financial Services Association, Icelandic Banks' Data Centre (RB), Federation of Icelandic Industries, Ministry of Finance and Economic Affairs, Ministry of culture and commerce, and Central Bank of Iceland.

Council meetings are prepared by Greiðsluveitan, a subsidiary of the Central Bank, and the Governor of the Central Bank, as chair of the Council, presides over its meetings. It is planned that the Payment Council will meet twice a year. All materials relating to the Council will be published on a separate page on the Central Bank website soon after each meeting.

Press release no. 5/2022,
2 February 2022