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ARTICLE · 14 AUGUST 2025

Payments - Key Updates

Addleshaw Goddard
Addleshaw Goddard
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Addleshaw Goddard

Addleshaw Goddard

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The article explores recent UK Government initiatives aimed at modernising the payments and data landscape to drive economic growth.

United KingdomFinance and Banking
Rebecca Hickman
Rebecca Hickman
Helena Brown
Helena Brown
Claire Edwards
Claire Edwards
Nicola Bailey
Nicola Bailey

The p explores recent UK Government initiatives aimed at modernising the payments and data landscape to drive economic growth. It highlights the National Payments Vision (NPV), which sets out a strategy for next-generation retail payments infrastructure, including a new governance framework involving HM Treasury, the Bank of England, and industry participants. It also examines the Data (Use and Access) Act 2025, which establishes a regulatory framework for Open Banking, Smart Data schemes, and digital verification services. These developments aim to enhance innovation, competition, and consumer control over data while addressing privacy, security, and regulatory challenges. The p underscores the importance of industry engagement and anticipates further consultations and secondary legislation in 2025 to shape the future of payments, Open Finance, and data-driven services.

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