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Next Generation Standard for UK Retail Payments: conclusions and shaping the way ahead

Pay.UK has today (30 November) published the conclusions and next steps to its consultation “Next Generation Standard for UK Retail Payments”.

The consultation, which was held earlier this year, sought to gain feedback from different stakeholder groups on three specific areas:

  • Recommended direction that we are proposing on the adoption of ISO 20022 for the clearing and settlement capability to be enabled by the New Payments Architecture (NPA)1
  • Foundational technical details for the ISO 20022 message standard, including our technical design and ISO 20022 readiness approach
  • Future direction on concepts that require a degree of standardisation across the payments ecosystem (i.e. from the central clearing and settlement hub to end users).

We received a large number of responses from a range of financial institution participants, service providers, end user representatives and other interested parties, and we thank respondents for taking the time to provide their input, particularly at this time of uncertainty and wider health considerations. For a substantial proportion of our proposals in the consultation, we received overwhelming support; in some cases this was near unanimous.

The consultation conclusions are relevant for developers of ISO 20022 messages, service and solution providers, and end users (businesses, charities, and individuals). They provide a statement of our intentions regarding the implementation of the UK retail standard, what we have already started doing, and our plan for the next 18 months.

Standards are at the heart of what we do at Pay.UK and it is great to see the consultation conclusions on the Next Generation Retail Standard for UK payments published today. My thanks go to everyone who responded - your continued engagement with us will help shape the standards that will power transformation in payments, for the benefit of our end users.

Said, Matthew Hunt, interim Chief Executive Officer of Pay.UK

A significant proportion of Pay.UK’s role on this topic will involve engaging with different industry groups across the development, solution and end user spectrum. We are very keen to develop our existing relationships, as well as exploring new opportunities that can facilitate the use of standards, helping realise the benefits that can be enabled and the challenges that can be unlocked.

We also keen to establish new relationships with parties we have not previously engaged with. Any organisation or individual interested in exploring what opportunities the retail standard could do for them should contact us at


The consultation conclusion document can be downloaded from our website here.