The Payments Association has highlighted the need for stronger diversity and inclusion initiatives across the payments industry, as PridePay, the LGBTQIA+ focused payment app from Cardaq, steps forward as headline sponsor of Pride in London 2025.
The call to action follows the association’s 2025 D&I survey, which revealed considerable gaps in how the sector collects and uses diversity data. According to the findings, while 73% of payments organisations collect gender data during recruitment, only 14% gather information on sexual orientation, and just 27% record gender identity data. Notably, all firms that do collect sexual orientation data are actively analysing it, pointing to its value in shaping inclusion policies.
Despite this, only 11% of firms said they specifically prioritise sexual orientation as a diversity area, and a quarter reported having no focus on protected characteristics. Overall, 65% of payments organisations maintained stable diversity, equity and inclusion policies this year.
The Payments Association director of policy Riccardo Tordera said, “Our research clearly indicates that while progress is being made in some areas of D&I data collection, there’s still a considerable way to go, particularly concerning sexual orientation and gender identity.
“The fact that all organisations collecting sexual orientation data also actively evaluate it shows the immense value in this information. We must encourage broader data collection and, more importantly, a deeper commitment to utilising this data to foster truly inclusive environments within the payments industry.”
Tordera also highlighted PridePay’s role in setting an example within the industry, adding, “PridePay’s visible commitment to the LGBTQIA+ community through its Pride in London sponsorship is a commendable step, and we hope it inspires more payments firms to embed D&I at the core of their strategies.”
PridePay’s headline sponsorship of Pride in London on 5 July 2025 demonstrates its commitment to fostering a more inclusive financial ecosystem. The partnership will see PridePay’s branding across digital channels and public spaces, including pop-up lounges, co-branded installations at Trafalgar Square and Golden Square, and a float with more than 200 PridePay walkers participating in the parade.
In addition to visibility, PridePay plans to launch “Tap for Change” donation stations supporting LGBTQIA+ causes, a QR code treasure hunt to drive public engagement, and a pledge wall to encourage personal affirmations of support for LGBTQIA+ communities.
Cardaq CEO Hugo Remi underlined the mission behind PridePay, stating, “Despite the fact that we live in the 21st century, it feels like it’s in the Middle Ages sometimes. Right now, LGBTQIA+ people are not recognised, abused, bullied and more. A lot of us need to hide our identity, to claim to be who we are not, only because we’re are afraid to say it out loud, as we can lose parents, friends, and families. PridePay was born in order to change the way of how the society think and help LGBTQIA+ people.”
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