Payments forum moots ‘layered’ architecture in UK
New layered strategy would help improve agility of payments infrastructure, consultation suggests
The UK's Payment System Forum is proposing a new "layered" architecture for payments, as the current system "struggles to meet the evolving needs" of consumers and businesses.
A draft consultation published on July 13 suggests the current complexity of the structure means the industry struggles to adapt to the fast-changing payments environment.
As a result, a group of 22 individuals tasked with planning the future of the UK payment system have suggested moving to a Simplified Payments Platform
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