The Retailer Autumn Edition 2022

THE RE TA I L ER

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NEWS FROM THE BRC

SPOTLIGHT INTERVIEW

What are your priorities to help support BRC Members and specifically your finance community in the next 12 months? Card fees are particularly high on my agenda, and I continue to prioritise fighting to bring these down for our members. The PSR has announced two market reviews into card fees, so we will be assisting in these and coordinating member feedback for evidence. We are also urging the PSR to implement temporary interventions during the time that the review is conducted. We have joined forces with other trade associations in the Axe the Card Tax campaign too, pushing for change to reduce card fees for all merchants. I also have a focus on Buy-now Pay-later, which is due to come into regulation and is still undergoing consultation around the terms of this. This is becoming increasingly popular for consumers, and retailers are having to keep up with the fast-paced changes. Open Banking and innovation in alternative payments remains of high importance, as these would bring much-welcomed competition in the payments landscape. Access to cash is always a priority, as we all understand the importance of keeping cash in society for certain subgroups of consumers. For retailers, the reduction in consumer usage of cash makes it both more expensive and logistically difficult to continue accepting cash, so we are working with other organisations to look for solutions. Is there anything else you are working on that you would like to shout about? I’ve covered a lot of this above–but the Axe the Card Tax campaign is a really important campaign, and any retailers input into this is always welcomed. We are also hoping to create conversations between new account-to account payment providers, regulators, and retailers in an event we are putting on early next year. We want to provide our members with a day full of information, opportunities to discuss and ask questions, and create a conversation with the regulators about what else is needed for Open Banking to really take off in retail. We would love to see lots of our finance colleagues there! Tell us something interesting about you? Ooh a fun fact… wildlife conservation is close to my heart, and every couple of years I use my leave to visit a baboon rescue and rehabilitation centre in South Africa. I spend time helping to raise orphaned baby baboons and getting them ready to be re-released back into the wild. I’ve been going there for over 12 years now. Slightly different from the world of finance hey! To join BRC Finance community please email hannah.regan@brc.org.uk

Hannah Regan Policy Advisor for Finance British Retail Consortium

Hannah, tell us a bit about your role at BRC? I am the BRC’s financial policy advisor, covering all financial issues facing the retail industry. This mostly focuses on payments issues, consumer credit, and regulation. I represent our retailers onworking groups, push for change, and respond to consultations. We have monthlymeetings where we discuss relevant concerns, have guest speakers, and feed back on wider developments, as well as get retailer input on consultations. What was your background before joining BRC? Before the BRC, I was working for the Financial Conduct Authority (the FCA) for the previous 7 years. At the FCA, I worked on a broad range of policy, including consumer policy, vulnerabilitywork, and then specifics such as insurance and mortgage policy. I worked on policy-making and consulting on new proposals with industry and consumer bodies. Most proudly, I implemented new signposting rules to assist people with pre-existing medical conditions get better access to specialist insurers. W e caught up with Hannah Regan, BRC’S Policy Advisor for Finance to hear all about her first 6 months with BRC