The Bank’s engagement on retail payments

As part of our work on the National Payments Vision under the Retail Payments Infrastructure Board (RPIB), the Bank has convened three new forums to capture a broad range of experiences, expertise, and knowledge in the development of next generation retail payments infrastructure.

Together, these forums ensure we hear directly from consumers and small businesses, innovators, tech firms and fintechs, and experts from academia and policy so that together we can build a more resilient, innovative and inclusive payments landscape for the UK. 

Forums

Payments End User Forum

The Payments End User Forum (PEUF) focuses on the needs, experiences and perspectives of those who rely on payment services every day.

This forum will support our work on future retail payments and help inform design choices based on real user needs, practical constraints, and emerging risks, helping us build systems that work for everyone.

The Payments End User Forum membership brings together representatives from consumer groups, vulnerable groups, charities, small and medium sized businesses, retailers, and representative trade bodies. Members were chosen through an open application process.

• Payments End User Forum terms of reference

Payments Innovation Design Group

The Payments Innovation Design Group (PIDG) focuses on engaging innovators and payments stakeholders to gather input on innovative design areas within retail payments.

This forum will support the Bank in understanding emerging technology and design opportunities, assessing design approaches, and identifying challenges as the payments ecosystem continues to evolve.

The Payments Innovation Design Group (PIDG) membership brings together industry innovators, including financial services firms, technology companies and fintechs, payment service providers, digital identity and security specialists and relevant industry bodies working across areas such as digital wallets and open banking. Members were chosen through an open application process.

• Payments Innovation Design Group terms of reference 

Payments Academic Advisory Group

The CBDC Academic Advisory Group (AAG) provided a rich source of discussion and debate on the key topics relevant to the Bank’s exploration of a digital pound. Given the success of the group and noting that the issues discussed have implications wider than CBDC, we have broadened the scope to encompass our wider payments work.

The new Payments Academic Advisory Group (PAAG) forum focuses on supporting informed, evidence-based discussion on the opportunities and risks shaping the future payments landscape.

The forum's membership brings together leading academics and policy thinkers from disciplines including economics, law, behavioural science, competition, technology and innovation. Members were chosen through an open application process.

• Payments Academic Advisory Group terms of reference