E-Payment Advances Spur UK To Assess Payments Sector

Law360, London (July 29, 2020, 6:06 PM BST) -- The British government is asking for input on the strengths and potential problems of the country's payment systems amid rapid changes in the way consumers are paying for goods.

HM Treasury published a document Tuesday asking for views on how well the current system is delivering services as consumers increasingly pay by card and electronic wallets, or use mobile apps from the financial technology sector.

The consultation is the first step of a government review into the country's payment landscape. The consultation closes on Oct. 20 this year.

Many changes present "exciting opportunities" for industry, and also for customers in terms...

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