Testing industry commitment to the New Payments Architecture programme ambition
It has been more than two years since the Payments Strategy Forum’s Blueprint was published, and innovations such as confirmation of payee, request to pay and Open Banking have changed, and will continue to change, the evolving payments ecosystem. It is important to factor in this industry change, so we are at an appropriate point to ascertain industry views on the New Payments Architecture programme’s scope before we finalise key decisions that will inform the next stage of programme planning.
Participant engagement document
To collate these views and capture the industry’s views on customer and end user perspectives, a Participant engagement document and an associated questionnaire was sent to those who are direct participants of the Faster Payments System and Bacs Payments System. In addition, we shared the questionnaire with those organisations looking to become a direct participant as of December 2019. In partnership with UK Finance and direct participants, an appropriate group of indirect participants to question was also identified. Respondents were encouraged to consider the needs of their customers and end users when completing their responses.