Central Banking

BoE’s Hauser praises plan for integrated retail payments scheme

Andrew Hauser. Photo: BoE

The UK is set to have a new integrated retail payments system, with plans under way to consolidate the Faster Payments Service (FPS), Bacs and Cheque Clearing Company, the Bank of England's executive director for banking, payments and financial resilience has said.

Speaking at the launch of the Payment Strategy Forum on November 29, Andrew Hauser said such a consolidation would ensure a "strong systemic risk manager, governance body and procurer of a new generation of retail payments

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