Payments are critically important for everyone, as interaction with the economy is an essential part of life. Covid-19 might be viewed as a catalyst, fundamentally changing the way in which people interact and, by extension, the way in which they transact as consumers. Cash payments have always been part of our lives, and the availability of cash has served as a critical check on those who might force us to use third-parties. Recently, however, the share of cash transactions has declined, and the decline in cash has potentially significant implications for privacy and trust.
Future Payment Systems, funded by the EPSRC via the SPRITE+ NetworkPlus, aims to outline the evolving landscape of technology and regulation surrounding payment systems. Objectives of the project include:
The project is a collaboration between Universities of Nottingham, UCL, Stirling, Coventry, Turing Institute, Kent, Exeter and industrial partner Trilateral Research, with Dr Jiahong Chen, Research Fellow of Horizon, leading the Regulation work package.