National Payments Vision

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

Other resources

• Update on the Payments landscape - January 2025 - Association of Corporate Treasurers.
• UK National Payments Vision, November 2024