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The Future of Payments Review aims to consider how payments are likely to be made in the future and make recommendations on the steps needed to successfully deliver world leading retail payments, further boosting UK fintech competitiveness.

The Review is looking at this primarily through a ‘consumer needs’ lens – consumers in this context means both individuals and businesses making and receiving retail payments - and make recommendations for government, financial services regulators and industry. In making these recommendations, the Review will seek to answer the following three specific questions.

To help to inform the Review, stakeholders are invited to provide views on the following questions:

  • What are the most important consumer retail payment journeys both today and in the next 5 years? For example, paying a friend, paying a bill, paying businesses for goods and services, in the UK or internationally etc.
  • For these journeys today, how does the UK consumer experience for individuals and businesses compare versus other leading countries? For example, the quality of experience, security or cost.
  • Looking at the in-flight plans and initiatives across the payments landscape, how likely are they to deliver world leading payment journeys for UK consumers? For example, we welcome suggestions that you feel would support, or are essential to delivering, world leading payments for UK consumers.

The call for input is open until 1 September. If you have any input or would like to discuss, please contact Hannah Regan.

More information can be found here.