UK Finance’s report on the future of UK payments

Published on 9 February 2021

We have compiled a comparison table between the plans for UK payments as foreseen by:

  • UK Finance’s “Future-ready payments 2030: a dynamic, purposeful and united agenda for the UK”, of February 2021;
  • The Payment Strategy Forum’s “A Payments Strategy for the 21st century: putting the needs of users first”, of November 2016;
  • Payments UK’s “World Class Payments in the UK: enhancing the payments experience”, of August 2105.

UK Finance’s plan makes for lamentable reading: it consists mainly of fluff and serves to distract attention from the failure to deliver on previous plans.

Those plans were quite similar between World Class Payments and
A Payments Strategy for the 21st century.

Their implementation was taken on by UK Finance and, the main contributors to Future-ready payments. So far very little has been delivered: it all hinges on New Payments Architecture, which may or may not be complete in time to leave space before 2030 to do much else.

You can download the Comparison Table here.