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Planned industry-owned infrastructure delivery vehicle
An industry vehicle intended to procure and fund next-generation UK payment infrastructure; Sky reports a forthcoming equity solicitation.
Sky's September 14 report , published at 19:30 UK (18:30 UTC), says PDC plans a Tuesday equity solicitation of roughly £50m for setup through 2028. The financing terms come from unnamed sources; the spokesperson's statement confirms only the broad mission. This is a new report within the evening window, not evidence that the round has closed.
The BoE's July 2025 model gives RPIB design and oversight responsibilities, assigns industry-owned DeliveryCo procurement and funding, and leaves Pay.UK operating existing systems. The older UK Finance invitation explicitly described expressions of interest as nonbinding. Neither that invitation nor this report establishes capital paid, individual voting rights or awarded contracts.
Visa and Mastercard's reported early involvement complicates a simple story of a new national system displacing foreign incumbents. The useful next records are subscription documents, incorporation and governance terms, design handover and procurement decisions. Until then, the mechanism is institution-building with unresolved financing and control, not a functioning replacement network.
Assessment updated 2026-09-14
Retail Payments Infrastructure Board → UK Payments Delivery Company
Read in September 14 evening pass; cutoff 23:00:27.302Z
The July 2025 model assigns design and oversight to RPIB and procurement/funding to the industry-owned Delivery Company.
Mastercard → UK Payments Delivery Company
Observed 2026-09-14; original event time not independently resolved.
Sky names Mastercard among firms involved in early PDC work.
PayPal → UK Payments Delivery Company
Observed 2026-09-14; original event time not independently resolved.
Sky names PayPal among firms involved in early PDC work.
Visa → UK Payments Delivery Company
Observed 2026-09-14; original event time not independently resolved.
Sky names Visa among firms involved in early PDC work.
UK payment infrastructure: a planned raise, not an operating replacement ↗
Retail Payments Infrastructure Board → Design and delivery oversight → UK Payments Delivery Company
Read in September 14 evening pass; cutoff 23:00:27.302Z
The July 2025 model assigns design and oversight to RPIB and procurement/funding to the industry-owned Delivery Company. Historical allocation of roles, newly examined as ancestry; not a September 14 award or proof of final shareholder rights.
PayPal → Reported early participation → UK Payments Delivery Company
Observed 2026-09-14; original event time not independently resolved.
Reported by the cited source
Sky names PayPal among firms involved in early PDC work. Report dated September 14; participation itself predates publication. No institution-specific contribution amount, equity allocation or voting right established. Original timing note: Before or by 2026-09-14; exact date unresolved.
Visa → Reported early participation → UK Payments Delivery Company
Observed 2026-09-14; original event time not independently resolved.
Reported by the cited source
Sky names Visa among firms involved in early PDC work. Report dated September 14; participation itself predates publication. No institution-specific contribution amount, equity allocation or voting right established. Original timing note: Before or by 2026-09-14; exact date unresolved.
Mastercard → Reported early participation → UK Payments Delivery Company
Observed 2026-09-14; original event time not independently resolved.
Reported by the cited source
Sky names Mastercard among firms involved in early PDC work. Report dated September 14; participation itself predates publication. No institution-specific contribution amount, equity allocation or voting right established. Original timing note: Before or by 2026-09-14; exact date unresolved.