5 things to take away from our industry forum
11 May 2016, Jo Prowse, Chief Executive
In case you didn’t make it to the forum, let us quickly fill you in on our latest updates and on what the industry is saying:
1. Our new set of values
We’re refreshed our values and behaviours as part of our Cultural Shift programme. In the last couple of years PhonepayPlus has seen a huge amount of change – new people and a new style of operating - so we needed a set of values which align our people and ensure we are delivering regulation in the right way. Our new values are:
Right touch • Collaborative • Value for money
Right touch is about being aware of the bigger picture and being fair and proportionate so that our actions support good regulatory outcomes for all our stakeholders. Collaboration with the industry is key, being open and listening to others and being clear and decisive, so please do let us know your thoughts, ideas or suggestions. We’re committed to providing you with value for money by driving effectiveness, productivity and professionalism.
2. Value for money and funding
Speaking of value for money, this year we are reviewing the current levy-based funding model to explore whether an alternative approach could provide further transparency and fairness. Obviously we will consult with our industry funders on this review.
3. A new Code of Practice planned for July
It seems appropriate that in our 30th anniversary year we are introducing a new Code of Practice, which builds on those 30 years of experience. The new Code 14 will bring increased transparency, certainty and fairness. One aspect of this is replacing the Code Compliance Panel with the Code Adjudication Panel; PhonepayPlus board members will not sit on the new panel so as to ensure independent judgement. We aim to implement the 14th Code in July.
4. New work: deregulation, guidance and transparency
In terms of new work, we’re currently testing to see if further flexibility or deregulation in the PRS market will stimulate competition, innovation and growth in the best interests of consumers. Look out for a policy paper in the summer with our proposals. Also in consultation with you we are refreshing and updating Guidance for industry so it’s as clear and accessible as possible.
5. Industry’s buzz
What the industry was saying is best summed up by speaker Sally Weatherall, founder and Managing Director at Strategic Brief, a commercial management and regulatory consultancy:
‘The forum discussion demonstrated the clear utility of mobile operator billing and highlighted the significant opportunities the payment mechanic provides for digital goods and in combination with e-money services, physical goods. As payments and services converge, PhonepayPlus are clearly prepared to provide the regulatory clarity needed to facilitate industry growth. The key message for industry and regulator is to deliver simplicity, commerciality and trust. On that basis mobile payments will become an established payment choice of both merchant and their consumers.’
The slides of the presentations delivered on the day are available here.
Make sure you don’t miss out on the next forum as it’s a great opportunity to network with the people in the industry, us included, exchange thoughts and raise questions in an open and supportive environment. Hoping to see you soon!