pc
nid 93705
Jul 02, 2026
csoo@vixio.com
United Kingdom
Financial Conduct Authority
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1653 charsFinancial Conduct Authority Supports Retail Payments Infrastructure Consultation with Contextual Guidance
On July 2, 2026, the Financial Conduct Authority (FCA) published a statement supporting a consultation on future retail payments infrastructure led by the Retail Payments Infrastructure Board (RPIB), which is chaired by the Bank of England.
The Payment Vision Delivery Committee (PVDC)—comprising HM Treasury, the FCA, the Bank of England, and the Payment Systems Regulator (PSR)—released contextual guidance to help stakeholders engage with the RPIB's consultation. The guidance addresses key issues including the commercial model for the new infrastructure and how it can support consumer protection and financial crime prevention. Both the PVDC and RPIB were established to deliver the government's National Payments Vision, which aims to create a trusted, world-leading payments ecosystem built on next-generation technology. This vision prioritises giving consumers and businesses choice in payment methods to meet their needs.
The RPIB, an advisory board chaired by the Bank of England, will translate the vision and strategy for future retail payments infrastructure into detailed design through consultation with the broader payments ecosystem and end-users. The PSR and FCA serve as observers to the RPIB. The PVDC was established to ensure coordination between regulators and provide a mechanism for prioritising initiatives across the payments sector.
Stakeholders should review both the PVDC's contextual guidance and the RPIB's consultation on the Design of the Future Retail Payments Infrastructure to understand how the new infrastructure will function and the regulatory approach to consumer protection and financial crime compliance.
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1656 charsUK's Payment Vision Delivery Committee Publishes Update on Retail Payments Infrastructure Consultation with Contextual Guidance
On July 2, 2026, the Payment Vision Delivery Committee (PVDC) which comprises representatives of HM Treasury, the FCA, Bank of England and the PSR, published further context to support stakeholders' reading of the consultation. It covers issues such as how the commercial model for the infrastructure should work and how the new infrastructure can support consumer protection and the fight against financial crime.
In this update, PVDC sets out cross‑ HMT and authority thinking to guide engagement with stakeholders in the payment ecosystem on future roles, responsibilities and interactions with respect to the future core infrastructure.
This policy paper sits alongside the Retail Payments Infrastructure Board’s (RPIB) Consultation on the Design of the Future Retail Payments Infrastructure, reflecting the close relationship between:
the role the core infrastructure will play; and
the wider payments ecosystem it supports.
It focuses on the future retail payments ecosystem built around the next generation core infrastructure and the payment journeys, schemes and arrangements that sit around it and recognises that the wider ecosystem also includes cards and emerging forms of digital money that may not interact with the core infrastructure.
It also recognises that the ecosystem will continue to evolve, including through developments such as open banking and new forms of digital money, and that not all future roles, interactions and dependencies can be known at this stage. It is intended to complement the RPIB Consultation by setting out ecosystem‑level considerations that are relevant to the development of the core infrastructure.