Press Releases

10th July 2018

Update - 0900, Thursday 12 July 2018

25th May 2018
  • 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
1st May 2018

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).

18th April 2018

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.

11th April 2018

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. 

20th March 2018

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.

25th October 2017

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 what lessons can be drawn from the UK’s experience.

6th October 2017
  • Expression of Interest phase: the first of a three phase competition to renew and manage the Faster Payments infrastructure for up to 10 years.
  • Bidders will need to demonstrate commitment to excellence in payments processing.
22nd September 2017

This pamphlet has been developed collaboratively by the UK Interbank Payment System Operators – Bacs Payment Schemes Limited (Bacs), CHAPS, the Cheque and Credit Clearing Company, Faster Payments and LINK.

14th September 2017

The Faster Payments Standards Library has today announces significant enhancements to its service.

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