A Practical Next Step for the UK’s Future Retail Payments Infrastructure

It proposes a modular, extensible core, with common access and ISO 20022 messaging. The infrastructure will need to support existing and future payment journeys, while enabling a carefully planned transition from today’s systems.

For Form3, one of the most significant proposals is an orchestration layer. The Bank describes a layer that could validate, route and sequence payments across the core, including batches. It could also support a phased transition from legacy FPS and Bacs formats to ISO 20022.

Orchestration could have a role beyond migration. It may also support access, interoperability, resilience and future infrastructure change. Its value should be assessed both in the transition to new infrastructure, and in how it could help participants and services work together as the ecosystem develops.

Important questions remain open, including the orchestration layer’s boundaries, operating model and relationship with the core and wider ecosystem. The Blueprint is an opportunity to explore these questions with the industry and test how common capabilities can meet different participant needs and deliver clear benefits.

The future infrastructure is more than a new core. Participants will need to connect, operate and evolve services safely as systems change. Common interfaces and coordinated capabilities could reduce duplication, support coexistence and make new services easier to introduce. Their value should be measured by clear benefits for participants and the wider ecosystem.

The response confirms that the Blueprint will be developed through industry co-creation, with a handover to the industry-led Delivery Company planned for Spring 2027. Operational experience will be important in testing the design, identifying trade-offs and turning high-level proposals into a practical plan.

Form3 welcomes the progress and the opportunity to contribute. As a UK-headquartered payments technology provider, we bring experience supporting financial institutions with payment connectivity, messaging, operations and infrastructure change. We look forward to bringing that experience to the Blueprint, including through discussions on how orchestration can support transition and provide lasting value.

The next stage is an opportunity to shape a resilient, interoperable and adaptable payments ecosystem that supports continuous evolution and works for the organisations and people who depend on it.