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Media
Update - 0900, Thursday 12 July 2018
This month service users will have a chance to respond to a Bank of England consultation on a move to new global messaging standard.
- Service has run 24/7 since the first payment was sent on Tuesday 27 May 2008
- More than 9.1 billion payments worth over £7 trillion have been sent since launch
Operational responsibility for the Bacs and Faster Payments systems, which process a combined £6.3 trillion worth of payments annually, has today (1 May 2018) transferred to the New Payment System Operator (NPSO).
Faster Payments has today (Wednesday 18 April 2018) welcomed TransferWise as the first ever non-bank payment service provider (PSP) to directly connect and settle with its 24/7 real-time payment infrastructure.
Breaking down the language barriers between payment messages to develop fully interoperable payments systems is no small undertaking and requires ISO20022, says Mike Banyard, Head of Development.
Ebury becomes Faster Payments’ first Directly Connected Non-Settling Participant
Faster Payments has today (20 March 2018) welcomed the first ever non-bank to directly connect to its 24/7 real-time payment infrastructure under the Scheme’s new and simplified Directly Connected Non-Settling Participant (DCNSP) sponsorship model.
With the SEPA Inst scheme for instant euro credit transfers due to go live from 21 November, the European Payments Council interviewed Craig Tillotson, Chief Executive of Faster Payments, to see wh