PVDC issues context on future UK retail payments infrastructure
The Payments Vision Delivery Committee published supporting context alongside the Bank of England-led RPIB consultation on future retail payments infrastructure.
HM Treasury, FCA, Bank of England and PSR jointly clarified the commercial model and governance for the UK's next-generation retail payments infrastructure. Signals a coordinated cross-authority push to modernise infrastructure and reshape competitive dynamics in payments.
Future infrastructure choices will affect payment firm operating models, access economics and resilience obligations.
Action Required
Engage with the RPIB consultation and evaluate strategic implications of the proposed commercial and governance model for retail payments.
Cross-authority alignment on retail payments infrastructure has strategic implications across banks, PSPs and fintechs.
Prepare consultation response covering commercial model, access, and resilience. Assess strategic impact on payments product economics and integration roadmaps.
“The Retail Payments Infrastructure Board, led by the Bank of England, published a consultation on future retail payments infrastructure. The PVDC — comprising HM Treasury, FCA, Bank of England and PSR — published further context including how the commercial model should work.”