Morning, Tuesday, 22nd April 2025
Online
This conference will discuss next steps for UK payments policy, regulation and market development.
It is an opportunity for stakeholders and policymakers to assess the way forward for development and growth of the UK payments services sector, following publication of the Government’s recent National Payments Vision, aiming to deliver a clear plan for the sector.
Sessions in the agenda will discuss priorities for the Payments Vision Delivery Committee and associated industry-led engagement initiatives, as well as the role of the payments sector in delivering wider economic growth within the Financial Services Growth and Competitiveness Strategy and Government policy on infrastructure and skills.
We also expect the agenda to bring out latest thinking on strengthening regulation via coordination between regulators and new growth objectives, supporting Open Banking and Open Finance, tackling push payment fraud, and upgrading the UK retail payments infrastructure. Delegates will also consider potential reforms to Pay.UK, reforming the strong customer authentication regime, and the role of effective Digital ID.
Further sessions will focus on payment innovation and new forms of digital money, including the potential for a Central Bank Digital Currency, the use of Stablecoins in payment and the role of new financial market infrastructures, such as a Regulated Liability Network.
With the agenda currently in the drafting stage, overall areas for discussion include:
- the Payments Vision Delivery Committee: terms of reference and timeframes - integrating the views of industry - progress since the previous review - next steps for government and regulators
- sector development: role in the Financial Services Growth and Competitiveness Strategy - coordination with broader industrial strategy - assessing available sector data - skills, regional and infrastructure
- regulation: FCA, BoE and PRS coordination - fostering growth whilst mitigating risk - benchmarking UK regulatory frameworks with other jurisdictions, such as the EU and US
- Open Banking and Open Finance: policy and development priorities - account-to-account payments - support for FinTechs, competition and market entry - innovation in technologies, apps and use cases
- infrastructure: system upgrades - next steps for Bacs, Direct Debit, Faster Payments, and the Image Clearing System - Pay.UK and NPA reform - learning from international developments and best practice
- fraud: assessing industry-led and regulator initiatives - sector and telco joint working - mandatory reimbursement scheme progress - new approaches - rackling emerging risks
- innovation: new applications and technology - next steps for a central bank digital currency - Stablecoin regulation - new financial market infrastructures such as Regulated Liability Networks - tokenisation, blockchain, DLT-related payments and the potential role of AI
