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Category: New Payment Architecture

New Payment Architecture

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 including legislation, rules issued by […]

New Payment Architecture

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 up Albion Street on my […]

New Payment Architecture

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 the challenges of the future. […]

New Payment Architecture

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 Faster Payments), interbank payments are essential to […]

New Payment Architecture

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 are essential to the smooth […]

New Payment Architecture 0

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: The PSR state that they have issued the Call for Input to address […]