Pay.UK CEO speaks at NatWest Future of Payments conference 2023

Our Chief Executive Officer, David Pitt, recently attended the NatWest Future of Payments conference 2023 to discuss how innovation continues to be the key to success in payments.

To the 250-strong audience, David highlighted how a forward-looking approach has continually enabled us to plan and produce solutions to accommodate the needs of our changing ecosystem and growing economy.

These include Confirmation of Payee, to help in the fight against fraud, the Current Account Switch Service, to afford consumers more convenience and protection when switching accounts, and products such as Request to Pay to grant flexibility to consumers when it comes to settling bills.

David also discussed how this outlook will continue to be pivotal to our success as a payment systems operator, with particular reference to our role in the National Payments Vision recommended in the recent Future of Payments Review.

He said: “To succeed we must think innovatively, look to the future and plan accordingly. This was not only the key to success in the past, but will indeed continue to be the key to success in the future.”

The Government-published report, that considers the next steps for the UK in delivering a world-leading retail payments ecosystem, presented findings that we, too, are in support of. These include the need for a clear set of outcomes to simplify the payments landscape and align regulators and the industry, and collective action to combat fraud and realise the full potential of Open Banking payments.

Through our unique position at the centre of the ecosystem, we look forward to working with HM Treasury, the Bank of England, our regulators and our customers to help define the long-term future of payments in the UK.