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Consultation Paper: A blueprint for the future of UK Payments

28/07/2017

Ruth Evans, Chair of the Payments Strategy Forum writes in the forward of the blueprint document.

The Payments Strategy Forum represents the first time all stakeholders who have an interest in payments in the UK have worked together to plan for a future that meets the needs of all users. To this end we have ensured that the voice of the user is at the heart of our deliberations.

In November 2016 we set out an ambitious vision for the future of UK payments. One that will deliver simpler access, greater innovation, increased adaptability, improved competition and better security. We focussed on simplifying governance, leveraging existing industry activities and modernising our technology. Through these changes our payment systems will be ready to meet the needs of users, both now and in the future.

This document brings together our design work developed during this year for public consultation. We have worked hand in hand with the Payments Community to develop a draft Blueprint for the New Payments Architecture. We have set out a detailed design and implementation approach for a new payment system for the UK. We have developed requirements and rules for the three solutions users have told us they needed, namely Request to Pay, Assurance Data and Enhanced Data. We have completed the design work on four of our seven financial crime solutions and have started the handover to the industry bodies that will carry them forward to completion.

Download a copy of the blueprint document from here.

Over the next six months we will review your feedback and finalise our designs. By the end of 2017 we will hand over the final Blueprint to the New Payment System Operator to implement. In parallel, we will complete the handover of the financial crime solutions, with clear plans and accountability in place.

 

Author: Totally Admin Account
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