Central Banking

UK takes next steps in payments shake-up


The UK’s New Payment System Operator (NPSO) has taken over responsibility for two of the country’s three main retail payment systems, achieving one of its major milestones.

On May 1, the Faster Payments System and Bacs were successfully consolidated under the purview of the NPSO. Together, the systems process £6.3 trillion ($8.6 trillion) worth of payments annually.

“Today sees the start of a generational change in transforming the UK’s payments infrastructure,” said the managing director of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: