Research and innovation

Pay.UK sits at the centre of a vibrant UK payments ecosystem that faces constantly evolving challenges and opportunities impacting end users and the wider industry.

Our research and innovation focuses on addressing these by working collaboratively with the ecosystem, building on shared knowledge so that we can all stay ahead of the trends that will impact the payments landscape in the short, medium and long term.

How ecosystem engagement feeds into our work

Ecosystem engagement contributes to our horizon scanning process, which identifies potential risks that could impact the ecosystem as well as opportunities that would improve payments for participants and end users. We also carry out primary and secondary research to increase our understanding of key trends and issues as well as modelling future scenarios to understand impacts and drive informed decision making.

Our ecosystem engagement aims to understand and inform three areas of innovation:

  • How we can evolve our current products and services
  • How innovation can be enabled through the New Payments Architecture (NPA), a platform for a new generation of products and services
  • Catalysing innovation activity in the wider payment ecosystem for the benefit of the whole of the UK economy.

Knowledge Hub

To share industry knowledge and intelligence, we have launched our Knowledge Hub on the Pay.UK Portal. This is where you will find Pay.UK’s research and thought leadership work as well as external research, white papers and other pieces of thought leadership relevant to the payments ecosystem.

In time, the Pay.UK Portal will become the home of a collaborative community of payments innovators to network, build partnerships and create an industry vision – a shared picture of the trends set to shape the payments market.

This vision will be a shared community view of the trends impacting payment today and anticipated longer term market developments. It will become a key resource to help payment users and innovators consider and influence the direction of travel for the payments industry, including the introduction of the NPA.

Industry challenge

The Pay.UK Portal will also be used to host industry challenges to bring ecosystem players together to produce collaborative solutions to fill innovation gaps.

Our first challenge, based on our new paper, closed on the 31st March. Those who have contributed their ideas will receive an insight into the industry response along with our own commentary, providing an informed steer of what is on the horizon for payments. Thank you for all your contributions.