May 2020
Price: £95 PLUS VAT
Format: DOWNLOADABLE PDF
***Full-scale policy conference taking place online***
This conference will consider the future development of digital payments in the UK.
Key areas for discussion:
Innovation, competition and the payments market
- UK payments architecture and infrastructure - designing and implementing the New Payments Architecture, and implications for large retail banks and potential new market entrants;
- New consumer-facing payment services - and the role of third-party payment providers, such as Account Information Service Providers (AISPs) and Payment Information Service Providers (PISPs);
- Open banking - its impact research and development, innovation in consumer-facing financial management and banking applications, competition, and practical consumer benefits;
- The FCA’s Regulatory Sandbox programme - progress in driving innovation, and further steps that the regulator might take in this area;
- Wider market dynamics - how developments in regulation and standards are impacting competition and the position of large-scale retail banks; and
- Start-ups and SMEs in the UK’s payments and fintech sector - what more action might be needed from policymakers and regulators, including promoting increased investment.
Security
- The Confirmation of Payee system - its introduction and the way forward for wider rollout;
- Developing and implementing greater levels of security and stronger payments authentication in the UK - and the impact on the speed, convenience, and security of online payments;
- Detection and prevention of payments fraud in the UK - next steps, taking into account the implementation of SCA requirements and the Confirmation of Payee system.
Inclusivity and support for consumers
- The future development of a cashless society - and ensuring that groups of consumers are not disenfranchised by the development and rollout of new digital payment services; and
- Assisting consumers in managing debt and personal finances - the potential for new digital payments services and money-management tools.
The COVID-19 epidemic
- We also expect discussion on what has been learned from the impact of the coronavirus pandemic, with findings in last year’s independent Access to Cash Review that more than 8m UK adults would struggle to cope in a cashless society.
Developments that are relevant to the discussion:
The agenda:
- New Payments Architecture - designing and implementing the UK’s future system for interbank payments;
- Payments in the cashless society - what is needed to ensure that the growth in digital payment services does not disenfranchise cash-dependent consumers?;
- Regulatory priorities for the UK’s payments sector;
- Consumer priorities and the development of digital payment services - competition and choice, security and authentication, and inclusivity;
- The impact of the ongoing implementation of Open Banking standards on competition and
innovation in payment services; - Next steps for policy, regulation and industry in driving continued innovation in the UK’s payments sector; and
- Assessing the UK’s emerging payments landscape and responding to the key challenges facing the sector.
Policy officials attending:
Our forums are known for attracting strong interest from policymakers and stakeholders.
It’s certainly the case with this one. Places have been reserved by officials from BEIS; the CMA; HM Treasury; HMRC; the Information Commissioner's Office; the Centre for Data Ethics and Innovation; Treasury Legal Advisers; the Welsh Revenue Authority and the Department for International Trade.
This is a full-scale conference taking place online***
- full, four-hour programme including comfort breaks - you’ll also get a full recording to refer back to
- information-rich discussion involving key policymakers and stakeholders
- conference materials provided in advance, including speaker biographies
- speakers presenting via webcam, accompanied by slides if they wish, using the Cisco WebEx professional online conference platform (easy for delegates - we’ll provide full details)
- opportunities for live delegate questions and comments with all speakers
- a recording of the addresses, all slides cleared by speakers, and further materials, is made available to all delegates afterwards as a permanent record of the proceedings
- delegates are able to add their own written comments and articles following the conference, to be distributed to all attendees and more widely
- networking too - there will be opportunities for delegates to e-meet and interact - we’ll tell you how!
Full information and guidance on how to take part will be sent to delegates before the conference
