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 sub committees
Design Authority (DA)
Overview
The Design Authority (DA) is a sub-committee of the Retail Payments Infrastructure Board (RPIB). It is a Bank chaired committee with industry membership. DA is the vehicle for shaping, designing and documenting before RPIB’s handover of the high level design for the next generation retail payments infrastructure to DeliveryCo.
Purpose of the DA
In the near to medium term, ahead of the work moving into the delivery phase, Design Authority will be ultimately responsible for taking forward RPIB’s direction into a high level design, requirements and blueprint for next generation retail payments infrastructure. Design Authority will ensure that public policy goals as well as commercial factors are reflected in infrastructure design decisions.
The DA will adapt the nature of its engagement with RPIB and DeliveryCo across the implementation lifecycle, from initial consultation and design development through procurement, mobilisation, build, into monitoring and troubleshooting as the infrastructure nears final build.
Appointment of members
On 27 November 2025, the Bank issued a targeted call for expressions of interest for membership of the DA inviting applications from senior leaders from financial institutions. The objective being to form a subcommittee of RPIB that draws from a diverse set of industry participants, reflecting the breadth of expertise required to translate PVDC Strategy into design.
Members of the DA
Standing members
- Tom Mutton (Bank of England – Chair, and Deputy Chair of RPIB)
- Ali Moussavi (Bank of England – Deputy Chair)
- Danny Russell (Bank of England)
- Diana Carrasco Vime (Bank of England)
- Richard Windram (Bank of England)
- Steve Allen (Delivery Company representative)
- David Morris (Chief Operating Officer, Pay.UK)
Nominated members
- Ben Ashwell (Electronic Payments Director, Nationwide Building Society)
- Jon Greenall (Senior Engineering Lead, Wise)
- James Hodgson (CEO of NatWest's Merchant Acquiring business, NatWest)
- Samina Hussain-Letch (Senior Director, Payments, Markets and Partnerships, PayPal UK Ltd)
- Andrew Rankin (Chief Payments Officer, HSBC UK Retail Banking and Wealth, HSBC)
- Emily Rayment (Head of Public Policy, Open Banking)
- Andy Sacre (Head of Payments, Monzo)
- Cyrus Wadia (Payments Strategy Director, Modulr)
- Victor Weigler (Chief Technology Officer, Lloyds Banking Group)
Observer
- Andrew Wigston (Head of Supervision and Compliance Monitoring, PSR/FCA)
Supporting engagement on retail payments
The Bank is convening three new forums to ensure we are capturing a broad range of experiences, expertise, and knowledge in the development of next generation retail payments infrastructure. These forums will help us build a more resilient, innovative and inclusive payments landscape for the UK.
The three forums will shortly open for nomination. These are:
- The Payments End User Forum, which will focus on the needs, experiences and perspectives of those who rely on payment services every day.
- The Payments Innovation Design Group will support the Bank in understanding emerging opportunities, assessing design approaches, and identifying challenges as the payments ecosystem continues to evolve.
- The Payments Academic Advisory Group will support informed, evidence based discussion on the opportunities and risks shaping the future payments landscape.