LONDON and ATLANTA, Aug. 17, 2017 /PRNewswire-USNewswire/ -- P20, the new transatlantic payments initiative, will be hosting its inaugural conference at Lancaster House, London on October 10, 2017.
P20 will convene 20 of the most influential leaders in the global payments industry and top UK and US government officials and regulators annually to highlight the importance of payments and Fintech to the world economy. It will also shine a light on the vital role played by London and Atlanta and provide a long-term opportunity for a transatlantic partnership intended to promote growth of the industry globally through improved regulatory frameworks, economic development, innovation, financial inclusion and overall cooperation.
The inaugural conference this October will be led by P20 leadership delegates who will drive programming, presentations and outcomes. The event will also welcome participation from approximately 120 invited senior leaders representing relevant government agencies and offices, industry advocacy groups, academia, Fintech innovators, and payments industry executives from across the globe.
Goals for the inaugural conference include the following:
- Recognize the unique and important position the payments industry holds in global commerce and the associated responsibilities of industry and government
- Identify industry and policy challenges required to address during the next 10 years, and develop an agenda of short and long-term goals
- Create a vision and framework for working together to promote financial inclusion through streamlining regulatory frameworks, improved security and innovation
The conference will consist of an early evening reception for Board members and special guests on October 9, 2017, hosted by businessman, Member of the House of Lords and former Trade Minister Lord Digby Jones, then a dinner hosted by Conference Chairman Bruce Lowthers of FIS. This will be followed by an all-day conference on the 10th at Lancaster House with a closing dinner at London's National Gallery attended by all delegates.
In making the announcement, Peter Radcliffe, Chairman of P20, said "We are extremely proud to be hosting P20's first conference in London, bringing together payment industry leaders, government officials and head regulators to discuss the future of the sector. The P20 mission charter is being crafted to address the improvement of regulation, innovation, cybersecurity, education and financial inclusion on a global scale. This process would have not have been possible without the help of our lead sponsors, FIS, Hogan Lovells, Holland and Knight, the American Transaction Processors Coalition, MasterCard and Visa. Together with our sponsors, we look forward to shaping the conference outcomes and moving forward with all of our industry partners to next year's conference in Atlanta, and beyond."
American Transaction Processors Coalition's (ATPC) Executive Director, H. West Richards, added, "The P20 conference will provide an ongoing thought leadership platform intended to help shape the future of safe and secure payments across the globe. As the world continues the transition from a cash economy to a digital economy the time is now to bring the payments industry and regulatory leaders together to explore ways to expand and improve consumer participation."
London is the financial services capital of the world and dominates payments in Europe. London boasts nearly 40,000 Financial Services companies employing more than 60,000 workers in the Fintech sector alone; a large portion of which support the payments industry.
Atlanta is the payments capital of the U.S, processing 75 percent of $7.4 trillion in annual payments while employing the lion's share of the Fintech workforce of nearly 40,000.
- Highlighting both London's and Atlanta's success in payments will help to further burnish London as the continued definitive financial capital of the world and Atlanta as the payments capital of the U.S.
- Collaborating will promote policies and economic development opportunities that provide honest, secure and reliable payments to the rest of the world – a vital step in helping to lift many places in the world out of poverty.
- The P20 will serve to open a vital and expandable London/Atlanta Transatlantic corridor that will provide numerous collateral benefits to both cities and nations.
- P20 will help drive future growth: payments processors on both sides of the Atlantic have grown by 10X in the last 15 years, working together to carry payments to the rest of the world presents a clear opportunity to grow the industries by 20X or 30X, inuring to the benefit of both citizens and shareholders.