the first live cVRPs under the industry-led scheme, the UK Payments Initiative, which are expected to rollout in the first quarter of 2026.<\/a><\/p>\nThe plan reveals that, in April this year, the industry will select an organisation to take forward the \u201cestablishment of a body capable of becoming the Future Entity for Open Banking\u201d, with the aim to establish the Future Entity in the third to fourth quarter of 2026.<\/p>\n
The FCA consultation paper on the Open Banking Long-Term Regulatory Framework interface rules is planned for the third quarter, followed in the fourth quarter by the HMT Data (Use and Access) Act Statutory Instrument being laid in Parliament. This paves the way for the FCA to oversee the future ecosystem, including regulating the Future Entity and commercial schemes, and for revocation of the CMA Order.<\/p>\n
The plan also reveals that the government has developed a consultation about the design of a digital identity scheme, which will be launched \u201cvery soon\u201d.<\/p>\n
![\"Megan](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2026\/02\/Megan-Coulson.jpg\")
<\/p>\n
Megan Coulson, UK public policy lead at TrueLayer<\/p>\n
On LinkedIn, Megan Coulson, UK public policy lead at TrueLayer,<\/strong> called it \u201cthe next step in bringing coherence to an increasingly busy payments policy landscape\u201d.<\/p>\n\u201cAt its core, the plan is a coordination tool, setting out how multiple initiatives across retail and wholesale payments are expected to sequence and interact, rather than progressing in isolation,\u201d she said.<\/p>\n
\u201cIf implemented well, the Payments Forward Plan could begin to replace regulatory silos with a genuinely coordinated roadmap. That clarity and certainty is what allows industry to translate policy intent into practical delivery.\u201d<\/p>\n
Adam Jackson, chief strategy officer at Innovate Finance<\/strong>, wrote on LinkedIn: \u201cOne area where pace is essential is Open Banking cVRP \u2013 rolling out the new account-to-account UK Payments Initiative which will be the first tangible manifestation of the National Payments Vision.<\/p>\n\u201cThe Plan helpfully confirms end Q1 2026 as the start of wave 1 live payments but omits to set out the actions needed from Government and regulators to ensure successful extension to e-commerce later this year and indicates a timetable on some regulatory underpinnings that will be too slow.\u201d<\/p>\n
He added: \u201cThis is a flagship for UK payments innovation and we need the authorities to focus on delivering in a timely manner the framework industry needs.\u201d<\/p>\n
Further reading: What\u2019s in store for the UK and European ecosystem in 2026?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"In the UK, a new Payments Forward Plan has been published, setting out \u201ca clear and coordinated regulatory…\n","protected":false},"author":2,"featured_media":790665,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[3,4],"tags":[229963,936,748,229964,393,14637,229965,4884,168946,215322,229966,229967,1144,58966,229968,3209,229969,712,90984,16,229970,15,229971,1764],"class_list":["post-790664","post","type-post","status-publish","format-standard","has-post-thumbnail","category-uk","category-united-kingdom","tag-adam-jackson","tag-bank-of-england","tag-britain","tag-cvrp","tag-england","tag-financial-conduct-authority","tag-future-entity","tag-great-britain","tag-hm-treasury","tag-innovate-finance","tag-megan-coulson","tag-national-payments-vision","tag-northern-ireland","tag-open-banking","tag-payment-systems-regulator","tag-payments","tag-payments-forward-plan","tag-scotland","tag-truelayer","tag-uk","tag-uk-payments-initiative","tag-united-kingdom","tag-variable-recurring-payments","tag-wales"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/116138013283769596","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/790664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=790664"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/790664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/790665"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=790664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=790664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=790664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}