The Bank of England is inviting senior leaders from banks, fintech companies, and merchants to join the newly established Retail Payments Infrastructure Board (RPIB).
The UK is advancing its New Payments Architecture programme, set to replace the existing Faster Payments and Bacs retail interbank payment systems with a centralized clearing and settlement infrastructure. This initiative is guided by the Payments Vision Delivery Committee, which outlined the framework, and in July, the formation of the RPIB was announced. This board, chaired by the Bank of England, will turn the vision into actionable strategy.
Once the design is finalized, the RPIB will supervise the infrastructure delivery through a new industry-led company responsible for procuring and funding the next-generation payment system. With Victoria Cleland, the Bank of England’s chief cashier and executive director for payments, as chair, the board is now recruiting members.
The Bank of England emphasizes the need for a diverse group of senior strategic leaders who represent the entire payments landscape, including stakeholders from banking, fintech, and retail sectors. Interested parties are encouraged to apply by 24 September, prior to the board’s inaugural meeting at the end of October.