Becoming a Payments Innovation Forum Benefactor
Payments Innovation Forum (PIF) is a not-for-profit industry body representing the payments sector. Everything we do is designed to support at least one of our overarching objectives: to support and champion innovation in payments, to provide real and objective support to our members, and to promote legitimate confidence in the sector. Our Benefactor’s contribution to this is vital.
Our work relies on funding from a range of core income streams including from monthly membership fees and event sponsorship fees. In addition, we value benefactors whose donations each year help us to plan and sustain our work year on year.
2. Criteria for becoming a PIF Benefactor
The criteria for eligibility as a PIF Benefactor are deliberately rigorous. There are a number of reasons behind this, principal amongst these are: 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 laid out below before they apply.
PIF Benefactor status is open to all organisations who:
- Provide, support or enable the provision 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 enrolled as a member of PIF for no less than 12 months.
- Have traded solvently for more than two years and can be reasonably expected to do so for at least two years from the date the organisation becomes a PIF Benefactor.
- Can demonstrate how they intend to support PIF’s role and objectives.
- Will not, whilst being a PIF Benefactor, conduct itself in a manner that brings, or threatens to bring PIF or any or all members of PIF into disrepute.
3. Becoming and remaining a PIF Benefactor
On becoming and remaining a PIF Benefactor, an organisation must:
- Be aware of its obligation under PIF’s Articles of Association to further, to the best of their ability, the objects, interests and influence of PIF.
- Conduct itself 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 its position as a PIF Benefactor. Examples include but are not limited to:
- Taking advantage of the opportunities and privileges provided to it to solely further their own or others’ private interests and not those of PIF.
- Allowing another organisation who is not a PIF Benefactor or Member to use the PIF Benefactor or Member benefits.
- Agree to the Terms and Conditions of a PIF Benefactor and the Terms and Conditions of PIF membership.
4. PIF Benefactor Application Process
All PIF Benefactor applications are subject to approval by the PIF Board of Directors who will carry out an assessment of the PIF Benefactor applicant’s ability to support PIF in pursuit of its mission. 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, PIF members and PIF related activities 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 PIF Benefactor and continue to be bound by the Terms and Conditions of PIF membership.