UK bank leaders will meet this Thursday to launch plans for a new UK payment system to rival Visa and Mastercard. The meeting, led by Barclays UK CEO Vim Maru, includes major banks and payment firms. The goal is to build a backup payment system to protect the UK economy if US-owned systems face disruption. About 95% of UK card payments currently run through Visa and Mastercard, making the UK highly dependent on these US companies. The idea of a UK-based system, called DeliveryCo, has been discussed for years but gained urgency after US President Donald Trump's recent threats raised fears that US firms might cut services. In Russia, US sanctions forced Visa and Mastercard to stop working, leaving many unable to pay. EU politicians also warn against reliance on US payment firms. The UK’s plan includes Visa and Mastercard in the new group, aiming for cooperation rather than confrontation. The Bank of England says a national system would add extra security in case of disruptions. DeliveryCo aims to be ready by 2030, with city funders managing setup and funding. Mastercard and Visa welcomed competition and expressed commitment to UK consumers and businesses. This effort shows the UK’s drive to secure its payment future amid global uncertainty.