24 June 2019

Latest articles for Pay.UK


Banks not ready for 'confirmation of payee' service

23 April 2019  |  12758 views  |  10 News

Most of the UK's banks will not be ready until next year to roll out a new 'confirmation of payee' service designed to cut the risk of money being sent to the wrong accounts.


Non-bank PSPs get UK competitive boost

21 March 2019  |  7291 views  |  0 News

Non-bank payment service providers (PSPs) can now use client funds to support payments made via the UK's Faster Payments system.


UK payments schemes consolidated under Pay.UK banner

01 March 2019  |  4626 views  |  0 Company announcement

Pay.UK is the new home for Bacs, Faster Payments, and Cheque and Credit Clearing and, as of today (1 March) it is also the formal home of their people, a skilled team with a wealth of experience across the UK’s complex payments industry.


Pay.UK posts record volumes and values

22 January 2019  |  1804 views  |  0 Company announcement

Automated payments hit an all-time high in 2018 with brand new annual, monthly, and daily records set – one of them, twice.


Atom Bank joins Bacs

07 January 2019  |  2602 views  |  0 Company announcement

The UK’s first bank built exclusively for tablet and smartphone users has turned to popular payment method Direct Debit to boost its offering – challenger brand Atom bank has joined Pay.UK-owned Bacs Payment Schemes Limited (Bacs), which processes nearly six-and-a-half billion transactions a year worth £4.9 trillion.


Pay.UK rolls out new mule-busting technology

11 December 2018  |  11842 views  |  0 News

Pay.UK's Faster Payments team is rolling out new technology from Vocalink that enables banks to track and pinpoint fraudulent payments transactions across multiple, connected 'mule' accounts.


BofE-led ISO 20022 consultation gets industry thumbs up

30 November 2018  |  7349 views  |  0 News

A Bank of England-led consultation on adoption of ISO 20022 has found widespread backing for the introduction of a Common Credit Message (CCM), which aims to harmonise messaging across the UK’s main interbank payment systems.


Pay.UK names Nathalie Oestmann non-executive director

28 November 2018  |  2125 views  |  0 Company announcement

Pay.UK has today (28 November 2018) announced the appointment of Nathalie Oestmann as a new Non-Executive Director to its Board.


Pay.UK invites interest on 'Enhanced Data' payments project

13 November 2018  |  5519 views  |  1 News

Pay.UK is calling for industry input on plans to provide enriched data alongside payments as part of the reboot of the nations financial pumbing.


Bank of England invites applications for payment standards panel

09 November 2018  |  6067 views  |  0 News

The Bank of England in conjunction with Pay.UK, has issued an open call for interest for members of the payments industry wishing to join a newly created Standards Advisory Panel ahead of the introduction of ISO20022 message standards.

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