" class="no-js "lang="en-US"> Advisory groups for New Payments Architecture start recruitment - Fintech Finance
Tuesday, April 16, 2024

Advisory groups for New Payments Architecture start recruitment

Applications to join specialist advisory groups that will influence the future development of the UK’s shared retail payment infrastructure are now (Wednesday 12 September 2018) being welcomed by the New Payment System Operator (NPSO), the UK’s leading retail payment authority.

The advisory groups will have the chance to influence the design and delivery of the New Payments Architecture (NPA) – the new conceptual model for the future development of the UK’s shared retail payment infrastructure. The advisory groups will offer expert opinion to the NPA programme in relation to their area of focus.

The first groups to be set up are for NPA participants, procurement, legal, the Request to Pay service and transactional data analytics, with draft terms of reference for these groups now published on the NPSO website.

It is expected that over the lifecycle of the NPA programme the advisory groups will comment on issues ranging across the design of the NPA; the interaction between clearing & settlement layer and existing and new overlay services; rules and standards; implementation, transition planning and migration from existing infrastructure.

Paul Horlock, Chief Executive of the New Payment System Operator, said:

These new advisory groups offer a fantastic opportunity to get your voice heard on how the New Payments Architecture will be delivered. The NPA will be the biggest change to the way payments are processed in the UK since the 1960s – we look forward to broadening the discussion across this multi-faceted programme to ensure it delivers the widest range of benefits possible.

Membership of each of the groups will be tailored to the subject area being considered – they are likely to be made up of a mix of existing participants in the NPSO schemes (Bacs, Cheque and Credit, and Faster Payments) and prospective members of the NPA, as well as vendors, legal experts and trade bodies.

Interested parties are invited to nominate representatives with relevant subject matter knowledge, skills and experience for the first advisory groups at: https://www.newpso.uk/npa-programme-advisory-groups/. The closing date for applications to these groups is Friday 5th October 2018.

More advisory groups will be set up as required, with plans already in place to start recruitment for technical, enhanced data, security and resilience groups over coming months, so they can be set up in early 2019. The advisory groups will sit alongside other stakeholder engagement carried out by the NPA Programme, including online collaboration tools, existing payment scheme roundtables, bilateral meetings and town halls.

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