😱 United Kingdom🇬🇧: coordination underway to establish a new payment company to strengthen financial sovereignty

😱 United Kingdom🇬🇧: coordination underway to establish a new payment company to strengthen financial sovereignty

The initiative is being driven by mounting geopolitical concerns and the need to reduce reliance on foreign-controlled payment infrastructure. The proposal has been put forward by major UK banks in coordination with the government, with the objective of safeguarding operational continuity in the event of disruptions to existing payment networks.
Talks involving the Bank of England and the CEO of Barclays UK are scheduled to begin later this week.

🔠 The proposed entity, tentatively named DeliveryCo, has already secured backing from several leading financial institutions, including Santander UK, Coventry Building Society, Lloyds Banking Group, Nationwide Building Society, the banking group NatWest Group, as well as the ATM network Link.

🔠 According to a report by the Payment Systems Regulator, published in 2025, approximately 95% of card transactions in the United Kingdom are processed through infrastructure owned by Visa and Mastercard. Industry representatives note that any disruption of these services could lead to significant systemic consequences.

🔠 When⁉️— The domestic payment system is projected to become operational by 2030, although implementation will depend on regulatory approvals and technological development milestones.

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