29 July 2014

Latest articles for Payments Council


Organic growth in Chaps volumes offsets migration to Faster Payments

18 October 2013  |  2814 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  |  12731 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  |  2242 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  |  5804 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  |  13245 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.


UK bank account switching service ready for September launch

16 August 2013  |  5957 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 will launch next month.


Payments Council to draw up 'Roadmap' for UK payments overhaul

17 June 2013  |  7696 views  |  1 News

The UK Payments Council is to develop a Payments Roadmap, setting out key strategic short-term and long-term goals for restructuring the nation's payments infrastructure over the next three, five and ten years.


Liquidity savings comes to Chaps

12 June 2013  |  1770 views  |  0 Company announcement

Members of CHAPS Clearing Company Ltd (also known as CHAPS Co), the organisation responsible for the operation of the UK's same-day high-value payment system, have begun to use a new Liquidity Savings Mechanism (LSM) to significantly improve liquidity efficiency when sending CHAPS payments.


UK banks promise 'hassle-free' account switching from September

11 June 2013  |  4244 views  |  0 News

The UK banking industry is promising hassle-free account switching services for consumers following a £750 million spend on systems changes and a national advertising campaign.


Chaps appoints Herta von Stiegel as first independent chairman

10 June 2013  |  2110 views  |  0 Company announcement

CHAPS Clearing Company Ltd (also known as CHAPS Co) is pleased to appoint its first independent Chairman, Herta von Stiegel, thereby ensuring that CHAPS Co continues to meet the latest governance standards* over the payment scheme. Two additional independent directors will be recruited by the end of June.

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