Dáil Éireann Debate, Thursday - 29 November 2012
72. Deputy Pearse Doherty asked the Minister for Finance the importance and role of a new single payments platform in helping to expand the delivery of new regulated services by credit unions to members; if the appropriate regulatory structures exist for such a platform to be developed and offered to consumers; when such a platform will be operational; and if he will make a statement on the matter. [53677/12]
Amharc ar fhreagraCredit unions already have access to payments infrastructure, via providers such as BOI, AIB and BNP. I am aware that the Irish League of Credit Unions is seeking to enter this market on a commercial basis via its Credit Union Service Organisation for Payments (CUSOP) project. The latest ILCU Annual Report sets out the details of this project, which requires authorisation from the Central Bank. However, this is a commercial project from ILCU and credit unions will have to decide for themselves whether to get involved. I do not propose to comment on matters of a commercial nature such as this given that it is subject to authorisation by the Central Bank.
