UK payments blueprint outlines tokenized payments for ‘multi-money ecosystem’
UK regulators published an update to a national retail payments blueprint, calling for infrastructure support for tokenization and interoperability with new forms of digital money.
UK regulators are calling for tokenization and “new forms of digital money” to be part of the core infrastructure of the country’s future retail payment ecosystem.
In a Thursday update to the government’s roadmap for modernizing retail payment systems, HM Treasury on behalf of the Payments Vision Delivery Committee said that including tokenization and digital money would advance its efforts to create a “diverse multi-money ecosystem.”
“Programmable payments, including those that rely on tokenization,” were named as potential “product-level arrangements” that may support payment innovation in the country, the agency update said.