The shape of things to come – Govt response to the Payments Landscape Review

In just ten years, we have transitioned from transacting mainly in cash to using cards for most payments, with an increasingly significant proportion of this business taking place with contactless cards as well as mobile and electronic wallets. Charlotte Hill and Ahmed Razzaq examine the latest output from the Government on the future of the UK payments regulatory landscape.

Charlotte Hill is a partner and head of the Financial Services Regulatory group at Taylor Wessing in London, where Ahmed Razzaq is an associate. Contact them on c.hill@taylorwessing.com and a.razzaq@taylorwessing.com.

On 11 October 2021, HM Treasury published the Government’s response [1] to the Payments Landscape Review, first announced by the then Chancellor in his speech at Mansion House in June 2019, in order to assess and map out an approach to ensure that United Kingdom regulation and infrastructure keep up with the “dizzying array of new payments models”. [2]