The IPayments Forum (IPF) and the ATM Industry Association (ATMIA) have announced the formation of the Integrated Payments Alliance, which was formerly known as the ATM Acquirers Alliance.
According to Lyle Elias, IPF chairman and a founding director of ATMIA, the name change and restructuring of the initiative was based on payments industry feedback.
He said the ATMIA membership believed the makeup of the group should be inclusive of all payments industry segments and not just ATM acquirers, with a mission and structure that needs to be one of "developing a framework for interoperable integrated payments that is inclusive of vertical industries".
As a result money services businesses, mobile operators, merchant acquirers and government regulators will all be included.
Cash advocacy will remain as the central focus of the Integrated Payments framework as it is still the main method of payment.
David Tente, ATMIA USA executive director, said the creation of the Integrated Payments Alliance "will bring together all stakeholders in this new movement toward cardless transactions and help to facilitate the connection of cash to all other forms of payment".
By Asim Shah