Open consultation

Modernising Payment Services Regulation

• From: HM Treasury
• Published: 14 July 2026

Summary

A consultation on the government's approach to modernising payment services regulation.

This consultation closes at
11:59pm on 6 October 2026

Consultation description

Having a strong and vibrant payments sector is vital for economic growth. The UK’s payment services regulatory framework has played a crucial role in cementing the UK’s role as a leader in payments.

However, the pace of innovation in payments is moving fast. Careful consideration must be given to how the regulatory framework should be updated to account for innovations in tokenised payments, Open Banking and agentic payments.

This consultation sets out the government’s approach to modernising payment services regulation and seeks views on how regulation needs to adapt to support innovation whilst ensuring strong consumer protections.

Documents

Modernising Payment Services Regulation Consultation

PDF, 453 KB, 43 pages

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Ways to respond

Email to:

Modernisingpaymentservices@hmtreasury.gov.uk

Write to:

Payments & Fintech team
HM Treasury
Horse Guards Road
SW1A 2HQ

Published 14 July 2026