UK Payments Initiative Ltd

About UK Payments Initiative Ltd

UK Payments Initiative limited (UKPI) is an industry owned and led company established to design, operate and govern a commercial scheme for Variable Recurring Payments (cVRP) in the UK. Our mission is to deliver a sustainable, trusted and widely adopted account-to-account alternative to cards and direct debits, supporting innovation, competition and consumer protection. UKPI is responsible for: • Developing and administering the commercial rulebook and related standards for cVRP • Managing the Multi-Lateral Agreement (MLA) between participants • Providing scheme governance, oversight and assurance • Delivering a roadmap aligned with the UK’s National Payments Vision by fostering the development and growth of commercial open banking payments The initial launch of cVRP focuses on lower‑risk, clearly defined use cases including utilities, government payments, charities and regulated financial services. Further waves will broaden both capabilities and adoption across the wider payments ecosystem including ecommerce. We work closely with participants, regulators and industry partners to create a commercially viable ecosystem that delivers value across the payments chain.