This week we launched UKPI at Money2020 and we are already overseeing live consumer payments. Since our incorporation, we’ve focused on getting the fundamentals right and building the company properly from the ground up. We’ve worked at pace to finalise the scheme rulebook, prepare for the shareholder subscription event, complete testing, and stand up the company’s core structures and capabilities. We now benefit from a committed group of founding shareholders who have provided the long-term funding that will enable UKPI to achieve success
It is particularly encouraging to see the first billers now being onboarded and initial transactions beginning to flow, marking an important milestone in UKPI’s progression from development into active operation.
Welcoming participants
We have also reached an important milestone in transparency. Today, we have published our scheme rulebook on our new website, clearly setting out how UKPI operates and providing a framework that builds trust through defined standards, clear rules, and accountability.
We are now in a position to engage actively with partners and onboard participants. If you are an Account Servicing Payment Service Provider (e.g. bank, building society or e-money account provider) or a Payment Initiating Service Provider, you can join the scheme by signing up to the rulebook.
We are already seeing positive engagement and interest with the use cases set out for Wave 1 – payments to charities, government, utilities and financial services.
A foundation for the future, built together
Reaching this point reflects the significant contribution of our shareholders and early participants, whose commitment, collaboration, and shared ambition have been instrumental in taking UKPI from development through to launch. We can be proud of what we achieved together as an industry.
As we move forward, we are committed to building on this momentum by continuing to foster strong, inclusive collaboration across the industry. As an industry-owned and led company, it is essential that we maintain deep and active engagement with both shareholders and participants, ensuring that UKPI evolves in line with collective needs and priorities. Our ambition is to establish a scalable, resilient, and enduring payment scheme for the UK. One that not only delivers consistently, but adapts alongside the evolving needs of the market, fostering greater competition and enabling ongoing innovation. Our focus is on prioritising and developing the next wave of use cases, while expanding into areas that reflect the broader ambitions of our participants and the wider ecosystem.
