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flag UK banks are building DeliveryCo, a domestic payment system by 2030, to reduce reliance on US card networks for better resilience.

flag UK bank leaders are advancing plans for a domestic payment system, DeliveryCo, to reduce reliance on US-owned Visa and Mastercard, which process 95% of UK card transactions. flag The initiative, backed by the government and major financial institutions, aims to create a resilient, sovereign alternative by 2030, with technical design led by the Bank of England. flag While prompted by geopolitical tensions and past disruptions in Russia, officials stress the effort is focused on long-term operational and cyber resilience, not politics. flag Both Visa and Mastercard are participating, supporting competition and innovation. flag European leaders have echoed the call for a unified, independent payment network.

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