We strongly support the ambition of the National Payments Vision (NPV) to deliver a trusted, world-leading payments ecosystem underpinned by next-generation technology. Future retail payments infrastructure will play a critical role in delivering that ambition.

 

We support the overall direction of travel set out by the Retail Payments Infrastructure Board's (RPIB). Our response highlights the key strategic considerations and design principles that we believe should shape the next phases of work, while identifying areas that will require further development as the detailed design evolves.

 

Close partnership between the Bank of England (BoE), HM Treasury, regulators and industry will be essential as the RPIB moves from high-level proposals to the detailed Design Blueprint and implementation approach.

 

Our response reflects extensive engagement with members from across the payments ecosystem, drawing on expertise from related policy areas, including operational risk and resilience and economic crime.