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Media
“Demand for access to the UK’s main payment systems (Bacs, CHAPS, the Cheque and Credit Clearing Company, Faster Payments and LINK) has never been greater. Much progress has already been made in terms of improving communication and simplifying the ease of access for new participants.
Faster Payments Scheme Limited (FPSL) is pleased to confirm that, with regard to the proposal to merge FPSL, Bacs and the Image Clearing System to form a single, new, retail payment system operator as recommended by the Payments Strategy Forum (PSF), the Competition and Markets Authority has decided not to refer the merger to a Phase 2 investigation.
Faster Payments, the UK’s 24/7 real-time payment service, has launched a new Trust Service that will potentially cut the cost for challenger banks and others of obtaining the services that are essential to securely access the UK’s payments systems.
ClearBank®, the first clearing bank to enter the UK market in more than 250 years, has become a direct participant of Faster Payments, the UK’s 24/7 real-time payment service.
Faster Payments has offered a credit transfer (push payment) service since launch in 2008. The Faster Payments Service now handles over 1.4 billion such payments worth over £1 trillion a year.
- Card & Payments Awards 2017 recognise groundbreaking achievement of the first new joiner of the scheme to use New Access Mode
- Free-to-use HTML resource is an important step in the drive towards adoption of the globally-recognised ISO 20022 standard