Icon is ideally positioned to work with banks to ensure readiness for the UK’s New Payments Architecture (NPA) programme, and to design and deliver enhanced real-time-payments projects for banks.
How NPA has come about
Arising from the UK’s industry-wide Payments Strategy Forum in 2016 and 2017, the NPA initiative will deliver a state-of-the-art real-time payments infrastructure, providing enhanced resilience and security, adopting the ISO 20022 standard for richer payments data, and enabling a wide range of new payments products (including at point-of-sale) for end-users.
The central NPA infrastructure is being built and will be operated by Pay.UK, the UK’s leading retail payments authority. On current timelines, design, build and testing will proceed throughout 2023-2025, with a likely implementation in Q1-2026 followed by a migration period.