Payment Methods
The question
To ask the Chancellor of the Exchequer, when she expects to receive the conclusions of the Payment Vision Delivery Committee.
Answered by Emma Reynolds
The National Payments Vision, published in November 2024, set out the government’s ambition for a trusted, world-leading payments ecosystem delivered on next generation technology, where consumers and businesses have a choice of payment methods to meet their needs.
To drive forward the activities required to achieve this, the government established the Payments Vision Delivery Committee – a senior cross-authority group, chaired by HM Treasury and comprising senior representatives of the Bank of England, FCA and PSR. The Committee is supported by the Vision Engagement Group including over 30 representatives from across the sector.
The Committee will shortly update on its first deliverable to set out an approach for the development and delivery of the UK’s retail payments infrastructure needs and the required governance and funding model to achieve it. It will also publish the Payments Forward Plan by end-2025, including a sequenced plan of future initiatives, and a recommended monitoring approach.
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