Independent report

Future of Payments Review 2023: Call for Input

Updated 8 March 2024

This is a Call for Input to inform the Future of Payments Review 2023, chaired by Joe Garner.

1. About the Call for Input

This Call for Input is seeking views from all stakeholders, including individuals and organisations, to inform the Future of Payments Review.

The Future of Payments Review, chaired by Joe Garner, was launched in July 2023 to report on how payments are likely to be made in the future and the steps needed to successfully deliver world leading retail payments.

Input requested

The Future of Payments Review aims to consider how payments are likely to be made in the future and make recommendations on the steps needed to successfully deliver world leading retail payments, further boosting UK fintech competitiveness.

The Review is looking at this primarily through a ‘consumer needs’ lens – consumers in this context means both individuals and businesses making and receiving retail payments - and make recommendations for government, financial services regulators and industry. In making these recommendations, the Review will seek to answer the following three specific questions.

To help to inform the Review, stakeholders are invited to provide views on the following questions:

1. What are the most important consumer retail payment journeys both today and in the next 5 years? For example, paying a friend, paying a bill, paying businesses for goods and services, in the UK or internationally etc.
2. For these journeys today, how does the UK consumer experience for individuals and businesses compare versus other leading countries? For example, the quality of experience, security or cost.
3. Looking at the in-flight plans and initiatives across the payments landscape, how likely are they to deliver world leading payment journeys for UK consumers? For example, we welcome suggestions that you feel would support, or are essential to delivering, world leading payments for UK consumers.

Please indicate if you are responding in a personal capacity as an individual, or on behalf of an organisation. If you are responding on behalf of an organisation please set out your role in relation to that organisation.

Ways to provide input

You can provide input through the online response form at: https://www.smartsurvey.co.uk/s/futureofpayments/

If it is not possible to submit your input through the online response form, you can email a response to futureofpaymentsreview@hmtreasury.gov.uk.

Alternatively, responses can be submitted to:

Future of Payments Review

Financial Services Group, 1st Floor

HM Treasury

1 Horse Guards Road

SW1A 2HQ

Duration of the Call for Input

The Call for Input will open on 10 July 2023 and close on 1st September 2023.

2. Next Steps

Once the Call for Input has closed, the Review team will analyse the responses received. The chair will provide a report and recommendations to the government in Autumn 2023.

3. Privacy notice

This privacy notice sets out how HM Treasury will use your personal data for the purposes of the Future of Payments Review and explains your rights under the UK General Data Protection Regulation (GDPR) and the Data Protection Act 2018 (DPA).

Your data (Data Subject Categories)

The personal information relates to you as either a member of the public, parliamentarians, and representatives of organisations or companies.

The data we collect (Data Categories)

Information may include your name, address, email address, job title, and employer, as well as your opinions. It is possible that you will volunteer additional identifying information about yourself or third parties.

Legal basis of processing

The processing is necessary for the performance of a task carried out in the public interest or in the exercise of official authority vested in HM Treasury. For the purpose of this consultation the task is consulting on departmental policies or proposals or obtaining opinion data in order to develop good effective government policies.

Special categories data

Any of the categories of special category data may be processed if such data is volunteered by the respondent.

Legal basis for processing special category data

Where special category data is volunteered by you (the data subject), the legal basis relied upon for processing it is: the processing is necessary for reasons of substantial public interest for the exercise of a function of the Crown, a Minister of the Crown, or a government department.

This function is consulting on departmental policies or proposals, or obtaining opinion data, to develop good effective policies.

Purpose

The personal information is processed for the purpose of obtaining the opinions of members of the public and representatives of organisations and companies, about departmental policies, proposals, or generally to obtain public opinion data on an issue of public interest.

Who we share your responses with

Information provided in response to a consultation may be published or disclosed in accordance with the access to information regimes. These are primarily the Freedom of Information Act 2000 (FOIA), the Data Protection Act 2018 (DPA) and the Environmental Information Regulations 2004 (EIR).

If you want the information that you provide to be treated as confidential, please be aware that, under the FOIA, there is a statutory Code of Practice with which public authorities must comply and which deals with, amongst other things, obligations of confidence.

In view of this it would be helpful if you could explain to us why you regard the information you have provided as confidential. If we receive a request for disclosure of the information we will take full account of your explanation, but we cannot give an assurance that confidentiality can be maintained in all circumstances. An automatic confidentiality disclaimer generated by your IT system will not, of itself, be regarded as binding on HM Treasury.

Where someone submits special category personal data or personal data about third parties, we will endeavour to delete that data before publication takes place.

Where information about respondents is not published, it may be shared with officials within other public bodies, members of the Future of Payments Review and individuals directly involved in delivering the Future of Payments Review and to assist the development of policies to which it relates. Examples of public bodies appear at: https://www.gov.uk/government/organisations.

As the personal information is stored on our IT infrastructure, it will be accessible to our IT contractor, NTT. NTT will only process this data for our purposes and in fulfilment with the contractual obligations they have with us.

How long we will hold your data (Retention)

Personal information in responses to consultations will generally be published and therefore retained indefinitely as a historic record under the Public Records Act 1958.

Personal information in responses that is not published will be retained for three calendar years after the consultation has concluded.

Your Rights

• You have the right to request information about how your personal data are processed and to request a copy of that personal data.
• You have the right to request that any inaccuracies in your personal data are rectified without delay.
• You have the right to request that your personal data are erased if there is no longer a justification for them to be processed.
• You have the right, in certain circumstances (for example, where accuracy is contested), to request that the processing of your personal data is restricted.
• You have the right to object to the processing of your personal data where it is processed for direct marketing purposes.
• You have the right to data portability, which allows your data to be copied or transferred from one IT environment to another.

How to submit a Data Subject Access Request (DSAR)

To request access to personal data that HM Treasury holds about you, contact:

HM Treasury Data Protection Unit
G11 Orange
1 Horse Guards Road
London
SW1A 2HQ

dsar@hmtreasury.gov.uk

Complaints

If you have any concerns about the use of your personal data, please contact us via this mailbox: privacy@hmtreasury.gov.uk.

If we are unable to address your concerns to your satisfaction, you can make a complaint to the Information Commissioner, the UK’s independent regulator for data protection. The Information Commissioner can be contacted at:

Information Commissioner’s Office
Wycliffe House
Water Lane
Wilmslow
Cheshire
SK9 5AF

0303 123 1113

casework@ico.org.uk

Any complaint to the Information Commissioner is without prejudice to your right to seek redress through the courts.

Contact Details

The data controller for any personal data collected as part of this consultation is HM Treasury, the contact details for which are:

HM Treasury

1 Horse Guards Road

London

SW1A 2HQ

London

020 7270 5000

public.enquiries@hmtreasury.gov.uk

The contact details for HM Treasury’s Data Protection Officer (DPO) are:

The Data Protection Officer

Corporate Governance and Risk Assurance Team

Area 2/15

1 Horse Guards Road

London

SW1A 2HQ

London

privacy@hmtreasury.gov.uk