London, UK, Tuesday, January 13th – The Payments Association, a trade group representing the payments sector, has launched its Payments Manifesto 2026, detailing policy recommendations, including a call for social media companies to have more responsibility in reducing fraud and a stricter ruling in the National Fraud Strategy.
The Manifesto, Making Britain a Payments Powerhouse, describes the 77 policies recommended by over 150 payments professionals working across regulation, financial crime, digital currencies, financial inclusion, open banking, ESG, merchant payments and cross-border payments.
The importance of stablecoins and digital currencies is stressed in the document, supporting the government’s goal to build a safe and effective regime for stablecoins and crypto assets.
It also dissects current frameworks and procedures that The Payments Association believes stifles progress, calling for the Bank of England to remove holding limits on systemic stablecoins, improve the backing assets ratio and removing the wholesale ban, enabling the UK to thrive in the digital finance economy and remain competitive at global level.
There is also an emphasis on supporting UK merchants, particularly SMEs, which often face regulatory burdens, ensuring they have a voice in regulatory decision-making to best innovate, adapt to modern payment methods and manage risk, with their needs and resilience in mind, so they are best equipped for the future of payments.
Ben Agnew, CEO of The Payments Association, said:
“The Manifesto asks for confidence, clarity and collaboration – so that together we can turn policy into progress.
“If the UK wants growth, resilience and global leadership, payments must be treated as strategic national infrastructure. We have an opportunity to create a payments infrastructure and outcome-focused regulation that drives UK growth; champions fair access and ensures the UK keeps pace with bold moves in the EU, US and Asia. Making it the most attractive place in the world to build and scale a payments business.”
Riccardo Tordera-Ricchi, Director of Policy and Government Relations, said: “Moving forward, we have two priorities: big techs and telcos to support our industry in fighting fraud and unlocking the potential of digital payments to boost financial inclusion.
“We will continue to remain vocal about how big techs can, should and must collaborate with us to reduce fraud. We call for the National Fraud Strategy to mandate its share of responsibilities, too. On inclusion, we must better grasp the opportunities offered by digital money and first get the stablecoins regime right. We are still far from it. But we applaud the government for including financial education in its financial inclusion strategy. This is a good first step towards a more educated young society.”
Hugo Remi, CEO of Cardaq, said:
“Speaking on behalf of the industry as a regulated member, I strongly believe in the strength of the United Kingdom and its potential on the global stage. We must unite and stand together—both as a country and as an industry—if we are to be strong enough to succeed. Both sides require support: the Government and Regulators need recommendations and feedback from market participants, while regulated firms need support from the Government and Regulators to remain competitive, gain a global advantage, and feel confident that the authorities stand behind them as they grow their businesses and contribute to the country’s development. In addition, the concept of socalled ‘friendly fraud’ by consumers against businesses is another crucial issue that should be addressed to combat fraud and other illegal activities, protect the market, and make the United Kingdom more attractive to investors and international companies.”
David Burton-Sampson MP said:
“I am delighted to continue working alongside The Payments Association who are fantastic advocates for connecting and representing the payments industry. I also congratulate them on the launch of their 2026 Payments Manifesto. We enter this year at a key juncture for the industry, with the Labour Government having set out clear direction on the future of payments through the National Payments Vision and further guidance through the Financial Inclusion Strategy. Additionally, the new National Fraud Strategy is due to be published imminently.”
“It’s time to embrace the future and for industry to work closely with government, the Bank of England and the Regulator to ensure greater alignment and pace so we can benefit from the opportunity that is laid before us. The Payments Manifesto 2026 should be used as a guide to accelerate positive progress.”
The manifesto launch took place at the House of Commons, Terrace Pavilion, hosted on behalf of The Payments Association by David Burton Sampson MP, Co-Chair of the APPG Open Finance and Payments, with Economic Secretary to the Treasury, Lucy Rigby KC, MP speaking at the event. At the critical juncture of technical innovation, this initiative and policies are a call to action, helping the UK persevere and regain global leadership in payments.
Other core themes that the Payments Association will continue to champion include advancing financial inclusion by working closely with the government to ensure policies encourage the development, expansion and promotion of products that serve everyone. It also emphasises tackling financial crime and accelerating the UK’s adoption of open banking, open finance, and open data; unlocking innovation, strengthening financial inclusion, and enabling consumers to access better quality and value.
To download the payments manifesto for innovation and growth – Creating conditions to support innovation and growth in payments – visit: https://thepaymentsassociation.org/the-payments-manifesto/
