02 September 2014

Latest articles for Payments Council


UK account switching service prompts Brits to move banks

16 January 2014  |  2172 views  |  0 Company announcement

The Payments Council today (16 January) published its first quarterly switching dashboard which shows that the new switching service has got off to an encouraging start since its launch on 16 September 2013.


Five international banks to join Chaps

20 December 2013  |  1581 views  |  0 Company announcement

CHAPS Clearing Company Limited, the UK payments system that processes and settles both systemically important and time-dependent payments, today (Friday 20th December), announced that it has received Letters of Intent from five major international banks to become Direct Participants.


Payments Council forecasts a bumper Christmas for retailers

22 November 2013  |  3253 views  |  1 News

The Payments Council is forecasting a bumper Christmas for retailers as it estimates that spending on cards, cash and cheques will reach £82.7bn in December, an increase of 1.2% from 2012 (£81.7bn).


Handelsbanken becomes shareholder in Chaps

11 November 2013  |  1081 views  |  0 Company announcement

As it approaches its 30th anniversary in February 2014, Chaps Clearing Company Ltd (also known as Chaps Co), the UK's same day high value payment system, is pleased to announce that Handelsbanken (Svenska Handelsbanken AB (Publ)) has become a shareholder and Direct Participant in Chaps.


Modest start for UK account switching service

22 October 2013  |  2231 views  |  1 News

About 89,000 Brits have switched their bank account provider in the four weeks since a new system designed to make the process quicker and easier was introduced.


Organic growth in Chaps volumes offsets migration to Faster Payments

18 October 2013  |  2848 views  |  0 Company announcement

As it approaches its 30th anniversary, CHAPS Clearing Company Ltd (also known as CHAPS Co), the UK's same day high value payment system, has today published its first market report.


UK government creates payments watchdog to boost competition

10 October 2013  |  12830 views  |  4 News

The UK government is setting up a utilities-style payments regulator in a bid to make it easier and cheaper for new entrants to take on the high street banks.


New account switching service proves hit as 35,000 Brits initiate move

26 September 2013  |  2270 views  |  0 Company announcement

Just over a week after the launch of the new Current Account Switch Service, the Payments Council today (26th September) confirmed that the central IT system on which the service is built is operating smoothly, with initial figures showing that more than 35,000 people have started to switch their account since launch.


UK bank account switching service arrives but full portability still on cards

16 September 2013  |  5923 views  |  0 News

A new system designed to make it easier and quicker for Brits to switch their current account from one bank to another launches today but politicians are still pushing for the industry to go further and bring in full account number portability.


Payments in 2022: Cash out, mobile in

19 August 2013  |  13416 views  |  7 News

Gazing into its crystal ball, the UK's Payments Council predicts that Brits will turn their backs on cash over the next 10 years as plastic cards continue their ascent and mobile money becomes a mainstream player.

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