Payment Systems

New Payments Architecture

The UK is in the middle of a once in a generation change to its core payment systems. Alongside infrastructure changes undertaken by the Bank of England to its high value gross settlement system and the developments in cross-border payments, the domestic retail interbank payments network is also being transformed into the New Payments Architecture (NPA) intended to deliver enhancements to payment services, innovation and increased choice. 

In our engagement, on behalf of payment service providers that will ultimately rely upon and fund the NPA, with stakeholders including the delivery body Pay.UK, we seek to inform the design and delivery priorities to enable innovation, consider the needs users and secure value for money for the industry and ultimately the end-users. We seek to ensure that consideration is given to developments across the broader industry landscape with implications for inter-bank payments, including the development of emerging payments and related technologies, such that the NPA is well positioned for the future. 


Single European Payment Area

Capitalise on the benefits of SEPA membership, while being alert to regulatory developments which may threaten the UK’s future participation.