meta_id 3324730

On July 14, 2026, HM Treasury launched a consultation on the government's approach to modernising payment services regulation in the United Kingdom. The consultation seeks views on how the regulatory framework should adapt to support innovation in the payments sector whilst maintaining strong consumer protections. The consultation addresses the rapid pace of innovation in payments and examines how regulation needs to evolve to account for three key areas: tokenised payments, Open Banking, and agentic payments. HM Treasury notes that a strong and vibrant payments sector is vital for economic growth, and the UK's payment services regulatory framework has been instrumental in establishing the UK as a leader in payments. However, the government recognises that careful consideration must be given to updating the framework to reflect current market developments and emerging technologies. The consultation document outlines the government's proposed approach to modernising payment services regulation and invites stakeholder feedback on how regulation should adapt to support continued innovation while ensuring robust consumer protections remain in place. Respondents should submit their views by October 6, 2026, at 11:59pm. Responses can be submitted by email to Modernisingpaymentservices@hmtreasury.gov.uk or by post to the Payments & Fintech team, HM Treasury, Horse Guards Road, London SW1A 2HQ. The full consultation document, comprising 43 pages, is available on the GOV.UK website.