20 September 2014

Latest articles for Payments Council


Chaps celebrates 30th anniversary

05 February 2014  |  586 views  |  0 Company announcement

Key members of London's financial community came together in London yesterday (Tuesday 4 February) to mark the 30th anniversary of CHAPS (the UK's high-value same-day payments system) and to highlight its continued key role in the UK's economic infrastructure.


UK account switching service prompts Brits to move banks

16 January 2014  |  2185 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  |  1596 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  |  3270 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  |  1094 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  |  2255 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  |  2861 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  |  12866 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  |  2282 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  |  6003 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.

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