The UK’s retail payments infrastructure could be set for a major redesign, with the Retail Payments Infrastructure Board (RPIB) launching a consultation on how the next-generation system should operate.
The consultation is seeking industry and public views on the types of payments the future infrastructure should support, including new payment options that could give consumers and businesses greater choice beyond traditional card payments.
One of the proposed changes is the ability to make account-to-account payments at the point of sale, providing an alternative to card transactions. The future infrastructure could also support enhanced cross-border payments, with the aim of making transactions faster and creating a smoother experience for users.
The feedback gathered through the consultation will be used to develop a blueprint for the infrastructure. A new industry-led Delivery Company will then take responsibility for building the core system.
The plans form part of the UK’s wider National Payments Vision, which is focused on modernising the country’s payments ecosystem and ensuring the underlying infrastructure can support changing consumer demands and new forms of payment.
The Bank of England is also playing a central role in the programme, with the central bank chairing the RPIB. The board brings together representatives from across the payments ecosystem, including banks, building societies, payment service providers, FinTechs and merchants.
Meanwhile, Pay.UK will continue to operate the UK’s existing retail interbank payment systems, including Faster Payments, Bacs and the Image Clearing System, while the next-generation infrastructure is developed.
The consultation is looking for views on payment journeys, key design decisions and priorities for the new system. The responses will help shape its high-level design and inform the next phase of development.
RPIB chair Victoria Cleland said, “Working together, we have a real opportunity to transform the UK’s retail payments infrastructure. Our vision is for an infrastructure that remains resilient and trusted, while providing a platform for innovation that responds to users’ needs as the payments landscape evolves. I very much look forward to hearing your views.”
The consultation comes as the UK looks to modernise the infrastructure underpinning everyday payments, while creating greater scope for account-to-account payments, cross-border transactions and future payment innovations.
Copyright © 2026 FinTech Global
