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 Pay.uk, 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.