OFT Payment Systems Task Force (PSTF)
A Task Force set up by the Chancellor of the Exchequer in March 2004 and run by the Office of Fair Trading (OFT). Its remit was to identify,consider and resolve competition, efficiency and incentive issues relating to payment systems. One of its working groups was the Cheques Working Group, which reported in November 2006. The PSTF was wound up at the end of 2006 with the announcement of the formation of the Payments Council and support of the OFT and HMT.