Mastercard response to the Bank of England's new approach to retail payments infrastructure.
Mastercard is fully supportive of the UK Government’s National Payments Vision and welcomes the Bank of England’s new approach to retail payments infrastructure, which it published today.
A Mastercard spokesperson said:
As a strong supporter of both the Government’s National Payments Vision (NPV) and The Financial Services Growth and Competitiveness Strategy, Mastercard welcomes today’s package of changes, published by the Bank of England. These measures are designed to re-establish the UK’s position as a world leader in Account to Account (A2A) payments. We support the introduction of the Industry Led Delivery Company which delivers on key findings of the Garner review, and the greater role for the Bank of England in overseeing the modernisation of UK A2A infrastructure. To unlock economic growth, it’s critical that the industry starts to deliver on the NPV as soon as possible. Based on our long-standing role as the UK’s A2A infrastructure provider, we are engaging with industry on how we can help to accelerate the transformational change required.
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
