The Payments Association (“TPA”) welcomes the opportunity to respond to the Retail
Payments Infrastructure Board’s (RPIB) consultation on the design of the future retail
payments infrastructure, published by the Bank of England on 25 June 2026. Our members
consider this the most important payments initiative in a decade and have engaged with
urgency and depth.
This response reflects views expressed by TPA members and industry experts who
contributed through a dedicated members’ workshop and follow-up written submissions. As
TPA’s membership spans the full payments value chain (banks, non-bank PSPs, card
schemes, fintechs and their advisers) and holds a correspondingly diverse range of views,
this response cannot and does not claim to represent the position of every member on every
question.
We are grateful to the contributors to this response, which has been drafted by Robert
Courtneidge on behalf of TPA’s Policy team. We would also like to thank the Bank of
England and the RPIB for their continuing engagement with industry throughout this
process. We hope this response supports the shared goal of ensuring the UK’s nextgeneration
payments infrastructure keeps the UK the best place in the world for payments
businesses to establish, invest and grow.
