Update on the Payments landscape – April 2023 | The Association of Corporate Treasurers

Update on the Payments landscape – April 2023

Update on payments landscape

The payments landscape continues to evolve and this blog shares some of the topics that caught my attention during the last month. If you think I’ve missed anything important, do please send an email to technical@treasurers.org.

Regulatory announcements

  • The Bank of England is seeking feedback on a possible extension of the opening hours of the CHAPS system.

If you have any views on this, please drop an email to technical@treasurers.org   

  • The UK’s CHAPS payment system remains on target to switchover to ISO 20022 in June 2023.


  • The Payments Systems Regulator in the UK published its workplan for 2023/24. It will focus on the following:

  • The Financial Conduct Authority in the UK issued a Dear CEO letter to payment firms that it regulates. It had two areas of focus:

    • Outcome 1: Ensure that your customers’ money is safe

    • Outcome 2: Firms do not compromise financial system integrity

    • Outcome 3: Ensuring that your customers' needs are met through high quality products and services (Implementation of the Consumer Duty)



Interesting reports

  • Clifford Chance has issued a report on payment trends in 2023. It identified the following 7 key areas:

    • Cross border payments

    • Central bank digital currencies

    • Stablecoins

    • Operational resilience

    • Open Finance

    • Embedded Finance

    • Anti-trust investigations

  • ACI Worldwide released its 2023 report called It’s Prime Time for Real Time. It includes the following infographic:

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