Payment Interface Provider

From ACT Wiki
Jump to: navigation, search

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


External link