The Retail Payments Infrastructure Board (RPIB)

Bringing together experts from across the payments ecosystem to design the next generation of infrastructure

In this section

Overview

On 15 July 2025, the Payments Vision Delivery Committee (PVDC) announced a new model to deliver the next generation of UK retail payments infrastructure, supporting businesses and consumers across the economy. It embeds public and private-sector collaboration, using the right expertise in the right functions to drive transformation.

As part of this announcement, it was confirmed that the Bank of England will set up and chair the Retail Payments Infrastructure Board (RPIB), which will include broad representation across the payments ecosystem (banking sector, fintech as well as merchants and end users).

On 7 November 2025, the PVDC published its Strategy for Future Retail Payments Infrastructure. It sets out the Committee’s strategic outcomes for future retail payments infrastructure, taking account of HMT and the Authorities’ objectives for the ecosystem at large. Building on the National Payment Vision’s pillars of innovation, competition and security, these outcomes provide a further level of detail that can help guide the RPIB in its work. They also support the industry and wider ecosystem in their prioritisation of investments and other initiatives.

Purpose of the RPIB

RPIB is a senior advisory board that will translate the vision and strategy set by PVDC into design, including through consultation with the broader payments ecosystem and end-users. Victoria Cleland, Chief Cashier and Executive Director for Payments, will be the Chair, reflecting the Bank’s role as operator and recent experience of renewing infrastructure, rather than as supervisor.

We recognise the importance of ongoing communications and engagement with the payments industry and end users, to ensure that what is delivered best meets the needs of the UK public. We are developing our approach, which will combine a range of engagement mechanisms, and we will communicate our plans in due course.

Having developed the design, RPIB will oversee infrastructure delivery by a new industry-owned and led delivery company, who will be responsible for procuring and funding the delivery of the next-generation infrastructure. The new model will rely on the right expertise driving activity at each stage of design and delivery, with clear mechanisms to ensure coordination, including with Pay.UK. Membership of RPIB will automatically include the Chair/CEO of the Delivery Company, senior representation from Pay.UK and an observer from FCA / PSR.

Appointment of members

After an external nomination and selection process, the Bank appointed members to the board in October 2025. 

We have chosen senior leaders from across the end-to-end payments ecosystem. They bring deep expertise in retail payments, strategic transformation, innovation and governance, and will play a pivotal role in shaping the next generation of retail infrastructure in the UK.  

They are from a range of organisations and bring a variety of perspectives. Members will serve a two-year term, with flexibility to evolve as the programme progresses. 

We thank all applicants for their interest and look forward to engaging broadly with the industry and end users throughout the design and delivery phases. 

For more information or to stay involved in the wider engagement process, please contact RPIB@bankofengland.co.uk. 

Members of the RPIB

Standing members

  • Victoria Cleland (Bank of England, Chair)
  • Deputy Chair (Bank of England)
  • Vim Maru (Chair Designate, Delivery Company)
  • David Pitt (CEO, Pay.UK)

Nominated members

  • Ross Borkett (Banking Director, Post Office)
  • Mark Brant (Chief Payments Officer, NatWest Group)
  • Jose Carvalho (CEO of Wealth and Personal Banking, HSBC UK)
  • James Fraser (Head of EMEA Payments and Global Head of Trade & Working Capital, J.P. Morgan)
  • Diana Avila Gonzalez (Chief Banking and Expansion Officer, Wise)
  • Emma Hagan (Chief Executive, ClearBank UK)
  • Chris Latchford (EMEA Head of Market Infrastructure, Stripe)
  • William Olgiati (General Manager EU/UK, Payment Acceptance & Experience, Amazon)
  • Lisa Scott (Chief Strategy Officer, Truelayer)
  • Kim Verhaaf (Managing Director, Group Payments, Lloyds Banking Group)
  • Jennifer Wood (Group Chief Information Officer, Skipton Building Society)

Observer

  • David Geale (PSR Managing Director and FCA Executive Director Payments & Digital Finance)

RPIB meetings and news

October 2025

The first RPIB meeting was held on 28 October 2025.

The meeting commenced with a welcome from the Chair and a ‘tour de table’ of Member introductions. Members discussed the July 2025 announcement regarding the new model for the delivery of the next generation retail payments infrastructure and the important role that RPIB had to play. Members agreed the Terms of Reference for RPIB. The Chair Designate of DeliveryCo provided a short update on work to establish DeliveryCo. 

Bank of England staff outlined key elements of the upcoming PVDC Strategy, which was due to be published in the coming days. Members were encouraged to reflect on the role of RPIB in interpreting and operationalising key aspects of the strategy.

Bank staff presented an indicative view of the proposed high-level design stages for the creation of the next generation retail infrastructure, and an indicative forward look of agenda items for future RPIB meetings. 

Bank staff invited early views on RPIB’s stakeholder engagement approach for engaging the broader ecosystem. The Chair emphasised the importance of stakeholder engagement both in providing information to a broad audience and gathering their views and insights. This would be an important agenda item at the next meeting.

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This page was last updated 10 November 2025