http://kotaku.com/5858586/here-is-so...ps-vita-owners
UMD PASSPORT
While this is not likely to please all of the people all of the time, it is ultimately more than they did for PSP Go owners and shows some amount of effort on their part to make good on a process that was previously discussed (in a conceptual way) and ultimately not followed-through in any fashion.
So, via this service, PSP owners with UMD discs can download software that allows them to register their PSP and register physical UMDs which will permit them to purchase digital versions via the PSN store at rates that are set by game publishers participating in the program.
The current rates appear to be between $1.29 and $31.
Since a large portion of PSP UMD games are available digital on the PSN, I can only assume that these license transfer rates are lower than the existing PSN pricing, and since the price/value of PSP games are in a continual decline, these rates will probably slope downward in the future.
Nothing formally announced for regions outside of Japan.
So, yeah. Not ideal, but at least it's something!
I've personally double-dipped on a few digital versions of UMDs, it'll be nice to get discounts on future instances of that.