NPA’s moment of decision Moment of decision: (Noun) A climactic, decisive or critical moment in an event or period. Issue 469 of Payments:Unpacked provided a summary of the PSR’s 2023/24 Annual Plan and Budget: The what, why and how of the PSR. A key element of the PSR’s latest work programme is the proposed New... Continue Reading →
Five things businesses need to know about the UK’s New Payments Architecture
Five things businesses need to know about the UK’s New Payments Architecture The Payments Podcast by Bottomline https://soundcloud.com/thepaymentspodcast/5-things-businesses-need-to-know-about-the-uks-new-payment-architecture-npa?utm_source=clipboard&utm_medium=text&utm_campaign=social_sharing In this podcast I joined Bottomline’s Richard Ransom to discuss what changes corporates can expect from the planned New Payments Archtecture (NPA) and consider how it might impact their business. We also explored what the NPA means for Bacs,... Continue Reading →
A2A payments, the NPA and all that with Lee McNabb of NatWest
https://youtu.be/c9k6NbL6xec Lee McNabb from NatWest joins us for our latest Payments:Unpacked video podcast. In this episode Lee unpacks: - The current state of play of A2A payments and explores what expectations we should place on the future expansion of this new payment mechanism. - Why the New Payments Architecture (NPA) is important to the future... Continue Reading →
New Payments Architecture
It was my privilege to host a webinar series for ACI Worldwide on the challenges and opportunities that lie ahead for New Payments Architecture (NPA). I was joined by payment experts from ACI Worldwide, Santander, Pay.UK, UK Finance and more in four mini webinars to answer your NPA questions, including: How will banks leverage NPA?... Continue Reading →
Podcast: Unpacking the UK’s New Payments Architecture
Unpacking the UK's New Payments Architecture In our latest Payments:Unpacked podcast we unpack the UK's proposed New Payments Architecture (NPA). Let's start with a quote by KMPG: At its heart, the NPA aims to streamline interbank payments into a single clearing and settlement system, replacing the numerous systems in place today. Initially, Faster Payments transactions will migrate to the... Continue Reading →
Quick Summary: Payment Systems Regulator – NPA Regulatory Framework
In December 2021 the Payment Systems Regulator (PSR) published their regulatory framework for the New Payments Architecture (NPA) central infrastructure services (CIS). In this blog we provide a quick summary of the regulatory framework and the associated Specific Directions together with relevant links to the PSR’s website. What is the New Payments Architecture (NPA) and why is it... Continue Reading →
New Payments Architecture (NPA) regulatory framework published
The PSR have published their regulatory framework for the New Payments Architecture (NPA) central infrastructure services (CIS) following a consultation on the delivery and regulation of the NPA. The NPA framework has been developed taking account of responses to that consultation and aims to address risks to competition and innovation in the NPA ecosystem arising from the behaviour of... Continue Reading →
Five years on: The UK’s retail payment infrastructure
An insightful and timely Point of View on the challenges of renewing the UK’s payments infrastructure by Phil Kenworthy, Director of Payment Systems Consultancy Ltd, and previously a CEO of CHAPS Scheme and a member of the Access to Cash Review. In July 2016, the U.K. Payment Strategy Forum (under the umbrella of the Payment... Continue Reading →
Bacs, Faster Payments, the NPA and Specific Directions
In issue 5 of our New Payments Architecture Unpacked newsletter we shared nine takeaways from the Payment Systems Regulator’s (PSR) decision on lowering the risks to delivery of the New Payments Architecture but have you ever thought about how the PSR compels the scheme operators to act? Regulatory Tools The PSR has a number of regulatory tools... Continue Reading →
Nine takeaways from the PSR’s decision on the New Payments Architecture
Last Thursday I was walking through Leeds city centre on my way to meet the City of London’s Lord Mayor for lunch when the Payment Systems Regulator (PSR) announced that they had decided that Pay.UK should phase the development of the UK’s New Payments Architecture (NPA) by narrowing the scope of the NPA Central Infrastructure Services (CIS) contract. As I walked... Continue Reading →
An amazing sub-structure that makes modern life so much easier
New Payments Architecture The payments regulator is very clear on its views on interbank payments and the systems that support these payments. Whether paying employee wages, or transferring money to a friend using internet banking, interbank payments are a key part of everyday life for businesses and consumers alike. It’s vitally important that they run smoothly and rise to... Continue Reading →
PSR Consultation on delivery and regulation of the New Payments Architecture
The PSR are consulting on ways to reduce risks to the successful renewal of the UK’s interbank payment systems and proposals to mitigate risks to competition and innovation. Each year, millions of us collectively make billions of interbank payments worth trillions of pounds. Whether receiving wages or paying bills (via Bacs/Direct Debit), or using a smart phone to send money to a friend (via... Continue Reading →
Reducing risks to the successful renewal of the UK’s interbank payment systems
The Payment Systems Regulator (PSR) has published a consultation setting out ways to reduce risks to the successful renewal of the UK’s interbank payment systems. Source: Payments Systems Regulator Whether receiving wages or benefits via Bacs, using a smart phone to send money to a friend via Faster Payments or paying bills through Direct Debit, interbank payments... Continue Reading →
Competition and Innovation in the UK’s New Payment Architecture
There are just ten days left to respond to the Payment Systems Regulator's (PSR) Call for Input on 'Competition and Innovation in the UK's New Payment Architecture' - the Call for Input closes on the 24 March 2020. The Call for Input can be found at: https://www.psr.org.uk/psr-publications/consultations/new-payments-architecture-call-for-input The PSR state that they have issued the... Continue Reading →
Payment System Regulator: Call for input
The UK's Payment System Regulator (PSR) have issued a Call for Input on competition issues that could arise in the UK’s New Payments Architecture (NPA). In issuing the Call For Input the PSR state: The importance of the NPA should not be underestimated. It is a once in a generation change to the very fabric of... Continue Reading →