← Back

Wire · founder news, decoded · technology

Modernising UK payments: HM Treasury's proposed overhaul of the payment services regime -

Published

21 July 2026

Topic

technology

Sectors

Fintech

Geography

United Kingdom

Source

Read at jdsupra.com

Verified

Fusion42 · 21 July 2026 · Fusion42 review

HM Treasury has launched a 12-week consultation on modernising UK payments regulation, proposing to shift technical requirements from legislation into FCA rules whilst keeping core consumer protections statutory. The overhaul covers tokenised payments, open banking reforms, and agentic payments, with implementation via secondary legislation.

This Wire brief sits within Fusion42's coverage of Fintech. Wire is Fusion42's founder-focused intelligence feed: each story is connected to the funds and startups it names — every one with a live profile on Raise or Scout — so founders can follow the capital and the momentum behind the headline rather than just the headline itself. Wire analysis is one of the live surfaces Arthur reasons over.

The Wire takeaway

If you build payment infrastructure in the UK, the rulebook is being rewritten to move faster than statute allows - and the FCA's new powers to set outcomes-focused authentication and fraud rules mean your compliance burden could drop whilst your risk appetite grows. Comments close 6 October; the firms that shape this consultation will write their own moat.

Related on Wire

Topics

Fintech · payments-regulation · tokenisation · open-banking · fca-rulemaking · stablecoins