UK PDC kicks off the development of a new domestic infrastructure
Stephen Dalton 18 September 2026
The UK's plans of developing a new domestic payments infrastructure took a step forward this week with the announcement that the UK Payments Delivery Company (UK PDC) has just launched an equity capital raise seeking to secure around £50 million from industry players.
The money raised will see the PDC financed until 2028 and its incorporation and mobilisation stages.
What is the UK Payments Delivery Company (UK PDC)?
UK PDC is an industry led delivery company charged by regulators with procuring and funding the new retail payments infrastructure designed by the Bank of England's Retail Payments Infrastructure Board in line with the government's National Payments Vision.
Initial funding of the UK PDC came from among others Barclays, HSBC, Lloyds, Natwest, Citi, JPMorganChase, Nationwide, PayPal, Stripe, and Wise.
Despite this project also being seen as an opportunity for the UK to reduce its reliance on US firms, payments giants Visa and Mastercard have both been involved in the early stages of setting up the UK PDC.
The project intends to replace the current Faster Payments and Bacs retail interbank payment system, with clearing and settlement taking place over a single purpose built central infrastructure.
It will be interesting to see where this goes.
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