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2 clusters · 5 sources · 28 days · First seen · Last updated

UK domestic payment infrastructure development

Overview

Major UK banks have initiated a fundraising effort to develop a new domestic payments infrastructure through the UK Payments Delivery Company (PDC). The project aims to raise approximately £50 million to finance incorporation and mobilization through 2028, seeking to reduce reliance on American networks like Visa and Mastercard, which currently process roughly 95% of the country’s card transactions.

Data from the 2025 annual Payment Markets Report indicates a high volume of activity in the sector, with 49.7 billion total payments recorded. While debit cards remain the most utilized method with 26.6 billion transactions, bank transfers and remote banking have shown significant growth. The digital landscape is also expanding, with mobile wallet registration reaching 65% of UK adults.

Entities

Visa · Stripe · Mastercard · UK Finance · Worldpay

Timeline

  1. [BUSINESS] 2 sources
    UK payment markets see 49.7 billion transactions in 2025

    UK Finance reports 49.7 billion total payments in 2025, with debit cards remaining the most popular method despite significant growth in bank transfers and mobile wallet usage.

  2. [BUSINESS] 3 sources
    UK banks raise £50m for new domestic payments network

    Major UK banks are raising £50 million through the UK Payments Delivery Company to build a domestic payments network as an alternative to Visa and Mastercard.

Sources

dmarketforces.com · economia.ig.com.br · finchannel.com · news.az · pymnts.com