Back to all news Back to all news

Next Generation Standard for UK Retail Payments

27 March 2020 UPDATE:  Revised date for responses to ‘Next Generation Standard for UK Retail Payments’ consultation is now closed

Pay.UK is closely monitoring the Covid-19 (Coronavirus) outbreak and has taken the necessary steps to protect our colleagues and maintain services to our Participants and end users. The robustness and resilience of the critical national infrastructure that we provide is our top priority.

We recognise that during this time, engaging with us might not be your main priority but we want to reassure you that your views are valuable to us.  Therefore, we will now be accepting responses to this consultation for a further four weeks after the previously published deadline.

Have your say: shape the next generation standard for UK retail payments

Setting standards is at the heart of what we do and by delivering best-in-class payments infrastructure and standards, we are looking to catalyse the retail payments market to benefit consumers and businesses nationwide.

To help us deliver this vision, we are consulting on the recommended approach for the use of global standard ISO 20022. This is a once in a generation opportunity to help define standards for the New Payments Architecture (NPA).

What is the ISO 20022 consultation?

This consultation seeks to gain feedback on the adoption of ISO 20022 for the clearing and settlement capability of the NPA. Your feedback will help us design the standards used to exchange payments data at the core of the NPA infrastructure and identify opportunities for further standardisation.

Who should complete the consultation?

  • End user representative bodies
  • Financial institution participants
  • Businesses
  • Trade bodies
  • Solution providers
  • Anyone with an interest in payments

The NPA Standards Consultation has now closed. 

The outcomes will be published in a final report on our website in November 2020.

If you have any questions or you require additional clarification, please email standards@wearepay.uk

Unless you indicate to us any confidential material, we will treat your response as non-confidential and your response may be published. We will not publish the contact details of the individual submitting the response.

Please see our privacy notice for more information on how we use personal data.