When the world waits with bated breath When the world waits with bated breath for the election of a new pope all eyes are fixed on a tiny chimney perched on the roof of the Sistine Chapel - everyone wondering whether they will see white smoke confirming that a new pope has been chosen or black smoke... Continue Reading →

New Payments Architecture (NPA) Prospectus Pay.UK have published a new prospectus to highlight the substantial benefits that they anticipate the New Payments Architecture (NPA) platform can bring. With input from specialists across the programme, the brochure offers a detailed overview that covers: payment file submission options describes new “flavours” of Faster Payments outlines fraud prevention initiatives... Continue Reading →

The NPA and future of instant payments Join Andrew Hewitt, Director of Payment and Data Solutions at FIS and Anjana Haines, Editorial Director at The Payments Association as they discuss the New Payments Architecture (NPA) and specifically instant payments, the future potential and risks, as well as Andrew’s own learnings from early account-to-account initiatives. https://open.spotify.com/episode/7kS7siVkExApw0PUeStN4X?si=rtYtYeTyTKSj7EFr4jFDSQ The NPA... Continue Reading →

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 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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →

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 →