Press Releases

26th January 2016
  • New industry procedures mean funds can be protected to help rightful owner
12th January 2016
  • Bank is first to declare intention to join during 2016
  • New joiner is key milestone for Faster Payments Access Programme
7th December 2015
  • Group gifts and seasonal shindigs organised, sorted and paid for by mums 
  • Young people more likely to view buying group gifts as ‘a tradition’
20th November 2015
  • Britons pay nearly £100 a month for football, book clubs and other activities but nearly two thirds (61%) of group organisers are left chasing payments
  • Football is the most popular group activity - Paym announces partnership with Lucozade Powerleague to help teammates split the bill 
10th November 2015
  • 24/7 real-time payments over £100,000 now possible for the first time 
  • Change meets demand from large corporate users of the service
  • Enhanced information on individual banks’ limits published on Faster Payments website from today
5th October 2015
  • Introduction of ‘pre-funding’ levels the playing field for Payment Service Providers of all sizes by eliminating shared risk
  • Change opens door to wider access and enhances integrity
  • Three challenger banks already on course to take advantage of pre-funding and join Faster Payments in 2016
11th August 2015
  • Second Paym statistical update reveals more than 1.25m payments  worth £70 million have been processed since launch
  • Petrol money, bills and IOUs are now more popular reasons to use the service, with more payments happening on weekdays 
22nd July 2015
  • 44% of customers have had to dash to a cash machine to get money to pay 
  • Sole traders chase an average of £208 at the end of the month, with 30% of them saying they stopped supplying a customer due to consistent late payment
  • Customers with no cash on them can now pay small businesses using just the small business’ mobile number
11th May 2015
  • Six FinTech vendors sign letters of commitment to develop new technical access solutions
  • More than 30 PSPs engaged with Faster Payments Access Programme
  • Joint report with Accenture sets out economic analysis validating benefits of New Access Model for vendors, PSPs and end-users  
29th April 2015
  • Paym celebrates its first anniversary; nearly £44m sent in the last 12 months
  • Mobile payment adopters four times more likely to be happy sharing money with friends and family
  • Nationwide Building Society set to join service in May

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