On 14 November 2024, Chancellor Rachel Reeves unveiled the UK’s National Payments Vision (NPV) at the prestigious Mansion House event, marking a pivotal step in the government’s commitment to transforming the UK’s payments landscape. 

This follows a promise made at the October 2023 Budget and delivers on the recommendations of the Future of Payments Review, which urged the government to set a clear strategic direction for the sector.  

Tulip Siddiq MP, Economic Secretary to the Treasury, owner of the NPV, introduced the NPV with a clear message: the government’s central mission is to grow the economy, and seamless, secure, and innovative payments are at the heart of this ambition. The NPV prioritises a trusted and resilient payments ecosystem that empowers consumers and businesses alike.  

UK Finance has been working closely with government to input into the NPV, and we are delighted to see many of our industry asks included. We look forward to working with the government on delivering real change in payments in the near future.