Pay.UK makes call for interest for Enhanced Data project
Interested parties are today (Tuesday 13 November 2018) being invited to contribute to the Pay.UK project to develop an ‘Enhanced Data’ capability as part of the New Payments Architecture (NPA) programme.
Enhanced Data offers the capability to add additional information to payments. This can be added as standardised, structured data creating both a larger data capacity and wider data range capable of transmission.
Examples of the types of additional information made possible by Enhanced Data can include the purpose of the payment, tax and benefit information, a personalised message or underlying business transaction details. Enhanced Data can also provide a capability to link items to a payment.
It is expected that a wide range of organisations could benefit from involvement in the development of Enhanced Data, ranging from government, commercial and consumer organisations through to financial service providers, system suppliers/ fintechs, industry associations and trade bodies.
Interested parties are being invited to complete a questionnaire on the Pay.UK website which will help to identify segments, sectors, stakeholders, use cases and benefits for Enhanced Data, helping the project in turn to map an information matrix informing scope and field of engagement.
The project will invite a cohort of respondents to discuss the topic in further detail through introductory workshops, one-to-one sessions and round table discussions. This engagement will run alongside an ongoing Enhanced Data advisory group, which is currently recruiting participants. The terms of reference for the Enhanced Data NPA Advisory Group have now been published on the Pay.UK website, with applications welcomed before the closing date of Friday 7 December 2018.