Payments Working Group

Payments is shifting from incremental upgrade to wholesale reinvention. The National Payments Vision has moved into delivery, with the Payments Vision Delivery Committee, HM Treasury, the Bank of England and the Financial Conduct Authority (FCA) setting the direction for the UK's future retail payments infrastructure, alongside near-term upgrades to Faster Payments and Bacs. At the same time, HM Treasury's consultation on modernising payment services regulation, the transfer of the Payment Systems Regulator's functions into the FCA, new Open Banking interface rules and the arrival of commercial variable recurring payments are reshaping both the rulebook and the commercial model.

To help members shape this fast-moving area, techUK is relaunching its Payments Working Group. This year, we may focus on the technology underpinning next-generation payments – infrastructure modernisation, account-to-account and Open Banking rails, fraud and financial crime tooling, and tokenised or programmable payments – and how it features in the UK's future tech stack, allowing members to showcase innovative solutions and have a say in the sector.

The group will build on techUK's wider financial services and payments work and will channel member views directly into our engagement with HM Treasury, the FCA and the Bank of England.

As this is a member-led group, we are keen to hear your thoughts on what topics should be up for discussion. In the form, make sure to include your view of the current and future points of interest or concern relating to payments.