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).
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.
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.
The first meeting will take place in late October 2025, led by Victoria Cleland.
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.
In addition to the RPIB, we expect to have considerable opportunities for engagement, from industry and end users. We are developing our approach, which will combine a range of engagement mechanisms and/or bodies.
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 (Delivery Company)
- David Pitt (Pay.UK)
Nominated members
- Ross Borkett (Post Office)
- Mark Brant (NatWest)
- Jose Carvalho (HSBC)
- James Fraser (JP Morgan)
- Diana Avila Gonzalez (Wise)
- Emma Hagan (Clear Bank)
- Chris Latchford (Stripe)
- William Olgiati (Amazon)
- Lisa Scott (Truelayer)
- Kim Verhaaf (Lloyds Banking Group)
- Jennifer Wood (Skipton Building Society)
Observer
- David Geale (PSR/FCA)