Becoming a PIF Benefactor
The Payments Innovation Forum (PIF) is a not-for-profit membership organisation and trade association for the payments industry. Our primary objective is to work on behalf of our members to support growth, and strengthen the relationships and shared understanding that guide the industry toward greater collaboration and enable better outcomes for consumers.
PIF relies on funding from a diverse range of income streams including annual membership fees and event sponsorship fees. In addition, we value Benefactors whose donations help us to plan and sustain our work in areas where the industry is actively seeking clarity, solutions and direction.
Benefactor Criteria
The criteria for eligibility as a PIF Benefactor are deliberately rigorous to reflect the high standards of practice we expect of our members, and to maintain the reputation and ethos of PIF in representing a diverse range of perspectives. As a trade association, we are also bound by strict competition law rules. This means, for example, that we must not limit our members’ ability to compete with each other.
It is important that organisations who wish to become a PIF Benefactor understand and meet the criteria below before they apply. PIF Benefactor status is open to all organisations who:
- Provide, support or enable the supply of regulated payment products and services, either as a payment services provider or supplier of solutions and services to the payments and fintech sectors.
- Are current members of PIF in good standing.
- Have been a member of PIF for no less than twelve months.
- Have traded solvently for more than three years and can be reasonably expected to do so for at least three years from the date the organisation becomes a PIF Benefactor.
- Can demonstrate how they intend to support PIF's strategic objectives.
PIF Benefactors are expected to:
- Conduct themselves in a manner which is guided by basic rules of professional ethics and compliance with all applicable laws, statutes and regulations, including but not limited to anti-competition laws, anti-bribery and anti-corruption laws, in order to uphold and advance the integrity and dignity of PIF and the industry at large.
- Participate, contribute and play an active role in PIF’s programmes and initiatives as agreed between PIF and the PIF Benefactor.
- Not misuse their position as a PIF Benefactor. Benefactor status may be referenced in marketing and communications activity, but must not be used in a manner that misrepresents the relationship with PIF, or prioritises commercial interests above the interests and objectives of PIF.
PIF Benefactor Application Process
Applications are subject to approval by the PIF Board of Directors who will carry out an assessment of the applicant. As part of the assessment, the PIF Board will take the following into consideration:
- How long the applicant has been trading.
- How long the applicant has been a member of PIF.
- The applicant’s engagement with PIF prior to PIF Benefactor application.
- The applicant’s regulatory status (if applicable).
- How the applicant proposes to support PIF, including any activities it wishes to undertake with PIF in its role as a PIF benefactor.
- Publicly available reviews of the applicant’s products or services and/or independently verified testimonials.
- Information that is publicly available or has been brought to PIF’s attention regarding the applicant and/or its activities. In this regard, PIF will take into account the source of such information and the nature of its content.
PIF reserves the right to refuse applications to be a PIF Benefactor.
Once an application has been approved, PIF Benefactors agree to bound by the Terms and Conditions of a becoming and remaining a PIF Benefactor and continue to be bound by the Terms and Conditions of PIF membership.
