The Council extends beyond the UK and Europe to provide a unique platform for industry leaders around the world to share best practices and brainstorm the future of merchant services.

Demand for the Global Merchant Services Council (GMSC) has also come from several of our clients around the world over the past few months, and several telephonically in the preliminary meeting. It was reinforced by discussions at the recent meeting of the International Cards and Payments Council (which is issuer-focused) in Dublin – where it was concluded that not only is the balance of power in cards now clearly shifting towards acquirers and merchants, but that issuers and acquirers need to work more closely together in future.

This is the background to the GMSC. Through a series of plenary sessions and focussed study groups covering Value Creation, Risk and Regulation in Europe, the US and Asia-Pacific the Council allows those leading the industry to chart the direction of this rapidly changing environment. The Council forms part of the Lafferty suite of global financial services industry Councils, established by Lafferty Group in 1995. The Lafferty Councils are neutral forums, independent of existing affiliations where industry leaders meet peers and work together to identify industry best practice. The objectives of the Councils are to help members to increase shareholder value, enhance customer service and improve profitability in the cards and payments and retail banking industries.