26 February 2026

Polar Moment’s Payments Perspective: February 2026

February’s Payments Perspective covers Amazon’s launch of Pay by Bank in the UK, new efforts to tackle deepfake fraud, the rise of AI-driven payment tools, and the ongoing debate around a UK domestic card scheme.

Amazon Launches Pay by Bank for UK Customers

Amazon has introduced Pay by Bank as a checkout option for UK customers. The service uses open banking to create a secure link between customers and their banks, removing the need to enter card details.

The launch is significant because it brings account-to-account payments into everyday retail, rather than niche use cases. Customers authorise payments in their banking apps and can receive refunds quickly once returns are processed.

Find out more here: Amazon launches Pay by Bank for UK customers (opens in a new tab).

UK Government Develops Deepfake Detection Framework

The UK government is working with technology companies, including Microsoft, to develop a framework for evaluating deepfake detection tools. The initiative aims to test how well different technologies identify AI-generated images, audio, and video used in fraud and impersonation.

As fraud becomes more sophisticated, deepfakes are emerging as a real threat to payments and identity verification. Establishing common testing standards should help financial institutions and technology providers better assess the effectiveness of detection tools.

Find out more here: UK government develops deepfake detection evaluation framework (opens in a new tab).

GoCardless Introduces Natural Language Payment Tools

GoCardless has launched a new Model Context Protocol (MCP) tool. This allows businesses and developers to interact with its payments platform using natural language via AI tools.

Instead of working directly with APIs, merchants can describe their payment requirements or query payment data in plain English. Guidance and results are received automatically. This approach could reduce integration effort and make payment data easier to access for non-technical users.

Find out more here: GoCardless launches MCP tool for natural language platform access (opens in a new tab).

Debate Continues Around a Potential UK Domestic Card Scheme

Industry discussion is continuing around the idea of a UK domestic card payment alternative as part of a broader push for payments sovereignty.

Supporters argue that a domestic scheme could reduce reliance on international card networks and help control costs for merchants. Critics question whether the investment required would be justified given the strength of existing infrastructure and global acceptance.

While still at an early stage, the debate highlights ongoing concerns about card costs and control of critical payments infrastructure.

Find out more here: Digital payments sovereignty: Industry responds to UK domestic card payments alternative (opens in a new tab).