The Bank of England has released its response to the Retail Payments Infrastructure Board’s (RPIB) consultation on the design of the UK’s Next Generation retail payments infrastructure. The consultation, launched in June 2026, received 121 responses from a diverse range of stakeholders, including payments firms, banks, merchants, and consumer groups. The feedback highlighted broad support for the key elements of the consultation document, with differences mainly relating to detailed aspects rather than overall design principles.
The consultation sought views on future payment journeys, design principles, and the role of the infrastructure as a platform for innovation. The responses emphasized the need for an adaptable infrastructure that can evolve with technological changes, user demands, and new types of money. The insights gathered will shape the Blueprint, which will be handed over to the industry-run Delivery Company in Spring 2027.
The Bank of England noted that the next-generation infrastructure is just one part of the broader payments ecosystem. Other elements, such as migration plans and end-user interactions, will be addressed in parallel discussions. The Payment Vision Delivery Committee (PVDC) is continuing to develop ideas on how various ecosystem components will work together effectively.
Victoria Cleland, Chair of the RPIB, emphasized the importance of collaboration between the public and private sectors in developing the next-generation architecture. She highlighted the need to ensure the current system remains resilient while transitioning to the new infrastructure.