Payment Interface Provider

Central bank digital currency (CBDC) - intermediaries - Bank of England.

(PIP).

A Payment Interface Provider is a Bank of England proposal for intermediaries to support consumers' access to a possible CBDC.

PIPs would not store CBDC

"[In] this model, consumers would manage their account and make payments through a ‘payment interface provider’ (PIP).

This would work something like bank accounts as we know them today.

The important distinction is that PIPs would not store the CBDC.

They would simply be a technological interface for the customer to view and manage their money."

UK House of Commons Library - Research Briefing 9191 - April 2022 - page 6.

See also

• Account
• Bank of England
• Blockchain
• Britcoin
• Central bank
• Central bank digital currency (CBDC)
• Cryptocurrency
• Currency
• Digital currency
• Distributed ledger
• House of Commons
• Payment service provider (PSP)
• Retail central bank digital currency
• Stablecoin
• Wholesale central bank digital currency (wCBDC)

External link

• Central bank digital currencies - House of Commons Library - April 2022