Press Releases

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
8th December 2014
  • Plans aim to create a level playing field for any firm that wants to offer world-leading real time payments to their customers
  • New Access Model seeks to catalyse market amongst technology vendors to offer access to Payment Service Providers 
21st July 2014
  • Tanya Castell appointed as third Independent Director 
  • Updated CPSS-IOSCO disclosure statement published on website
2nd April 2014
  • Registration for Paym starts from today
  • UK IOUs worth £12.6bn a year – Paym will make it easier for friends and family to pay each other back
10th March 2014
  • Final testing for the service is on track – launch date will be announced in April
  • Nine bank and building society brands will offer the service from launch
  • Paym has the potential to link every UK current account with a mobile number
12th December 2013
  • Publication of CPSS-IOSCO statement and re-launched website increase transparency and prime service for growth in membership
  • Governance strengthened by first Independent Director appointments
25th May 2013
  • Monday 27 May is the fifth anniversary of the first Faster Payment
  • New research reveals millions of people have become midnight bankers
  • More than £50,000 transferred for every UK household since 2008 launch
5th April 2013
  • 29,600 payments processed every minute overnight on Tuesday 2nd April
  • 14.4 million Faster Payments, worth £5.9 billion processed over Easter weekend
15th January 2013
  • Financial institutions representing 90% of UK current accounts commit to spring 2014 launch of first industry-wide mobile payment service
  • Sending security-protected payments by mobile will be as easy as texting, without the need to disclose account details
  • Customers will be able to send and receive payments straight from their account after simple sign-up process with their provider

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