National Payments Vision: Difference between revisions
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*For treasurers and businesses, it aims to create a more seamless, efficient, and secure payments ecosystem, by simplifying processes, reducing costs, and enabling more strategic financial management. | *For treasurers and businesses, it aims to create a more seamless, efficient, and secure payments ecosystem, by simplifying processes, reducing costs, and enabling more strategic financial management. | ||
''Source - Update on the Payments landscape - January 2025 - Association of Corporate Treasurers.'' | ''(Source - Update on the Payments landscape - January 2025 - Association of Corporate Treasurers.)'' | ||
:<span style="color:#4B0082">'''''Upgrades required to Faster Payments System'''''</span> | :<span style="color:#4B0082">'''''Upgrades required to Faster Payments System'''''</span> | ||
:"... the newly established Payments Vision Delivery Committee will, through work led by the Bank of | :"... the newly established Payments Vision Delivery Committee will, through work led by the Bank of England and PSR, clarify the upgrades required to the existing Faster Payments System, assess longer-term requirements and the appropriate funding and governance arrangements needed to deliver this – including proposals to reform Pay.UK" | ||
England and PSR, clarify the upgrades required to the existing Faster Payments System, assess longer-term requirements and the appropriate funding and governance arrangements needed to deliver this – including proposals to reform Pay.UK" | |||
:''UK National Payments Vision, November 2024, p9.'' | :''UK National Payments Vision, November 2024, p9.'' | ||
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*[https://www.treasurers.org/hub/blog/payments_landscape_january_2025 Update on the Payments landscape - January 2025 - Association of Corporate Treasurers.] | *[https://www.treasurers.org/hub/blog/payments_landscape_january_2025 Update on the Payments landscape - January 2025 - Association of Corporate Treasurers.] | ||
*[https://assets.publishing.service.gov.uk/media/6736385fb613efc3f182317a/National_Payments_Vision..pdf UK National Payments Vision, November 2024] | *[https://assets.publishing.service.gov.uk/media/6736385fb613efc3f182317a/National_Payments_Vision..pdf UK National Payments Vision, November 2024] | ||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:Financial_products_and_markets]] | [[Category:Financial_products_and_markets]] | ||
[[Category:The_business_context]] | [[Category:The_business_context]] | ||
Revision as of 00:05, 5 February 2025
Treasury - cash management - payments - UK.
The UK's National Payments Vision is focused on creating a payments infrastructure that is future-proof, responsive to changing user needs, and supports the broader economy and includes the following specific goals:
- Clarify upgrades to FPS and assess longer-term requirements.
- Seamless account-to-account (A2A) payments must be developed to provide greater choice to consumers and merchants including the development of a commercial Variable Recurring Payment model.
- For treasurers and businesses, it aims to create a more seamless, efficient, and secure payments ecosystem, by simplifying processes, reducing costs, and enabling more strategic financial management.
(Source - Update on the Payments landscape - January 2025 - Association of Corporate Treasurers.)
- Upgrades required to Faster Payments System
- "... the newly established Payments Vision Delivery Committee will, through work led by the Bank of England and PSR, clarify the upgrades required to the existing Faster Payments System, assess longer-term requirements and the appropriate funding and governance arrangements needed to deliver this – including proposals to reform Pay.UK"
- UK National Payments Vision, November 2024, p9.
See also
- BACS
- Cash management
- Clearing House Automated Payment System
- Electronic commerce
- Faster Payments Scheme
- Faster Payments Service
- Immediate Payment Service (IMPS)
- Immediate payments and the impact on corporate treasurers
- New Payments Platform (NPP)
- Pay.UK
- Payment
- Payment service provider (PSP)
- Payment Systems Regulator (PSR)
- Payments and payment systems
- Real-time Payments
- Single Euro Payments Area (SEPA)
- Single Immediate Payment
- Treasury
