Pay.UK - News, Articles & Research

Company announcement/people

Pay.UK names David Morris COO

Pay.UK, the independent, not-for-profit operator of the UK’s national retail payments systems, including Faster Payments, Bacs and Direct Debit, has announced the appointment of David Morris to the newly created role of Chief Operating Officer (COO).

01 August 2024

News/ai

Pay.UK hails fraud detection pilot results

Pay.UK says a fraud detection pilot involving Visa has exceed expectations, suggesting that it could save the country's economy over £112 million a year.

30 May 2024

News/payments

TCS in running to take over UK's Faster Payments - Sky News

Tata Consultancy Services (TCS) has emerged as a leading contender to take over the running of the UK's Faster Payments Service, according to Sky News.

06 February 2024

Company announcement/payments

Over a third of Gen Z use BNPL schemes once a month

Pay.UK, owner and operator of the Current Account Switch Service, today publishes research revealing that the majority of Gen Z wish they had received more financial education at school.

14 September 2023

Company announcement/payments

Iliad releases test platform for NPA

Iliad Solutions is pleased to announce the general release of its T3 test and certification platform for New Payments Architecture.

18 July 2023

News/retail

Gen Z turns to TikTok for financial advice

Young Brits are turning to TikTok for financial information, with many of them believing that influencers on the app provide better advice than traditional media.

15 November 2022

News/payments

UK banks to shut down mobile payment service Paym

Paym, the mobile payment service launched by fifteen of the UK's biggest banks and building societies, is shutting down after an eight year battle to keep abreast of changing consumer trends and technology.

29 September 2022

Company announcement/retail

UK Current Account Switch Service hits eight million milestone

The Current Account Switch Service today publishes its Q1 2022 Dashboard1 reporting the latest switching figures and trends. The Service saw an uplift in switching between January and March 2022, where 196,964 switches took place, compared to the same period last year where 138,964 switches occurred.

28 April 2022

News/people

Pay.UK appoints first CTO

Pay.UK, the operator of the UK’s national retail payment systems including Faster Payments, Bacs and Direct Debit, has appointed David Morris from Network International to the new role of chief technology officer (CTO).

21 April 2022

Company announcement/payments

Bank of London joins Faster Payments

The Bank of London, the leading-edge technology company and the world's first purpose-built global clearing, agency, and transaction bank, today announces it has become a Directly Connected Settling Participant (DCSP) of the Faster Payment System, the UK's 24*7 real-time payments infrastructure.

07 March 2022

News/payments

UK’s Faster Payments quadruples transaction limit to £1 million

A Pay.UK spokesperson has confirmed that the Faster Payment System transaction limit has today increased from £250,000 to £1 million.

08 February 2022

News/payments

PSR narrows scope for delivery of UK's New Payments Architecture

The Payment Systems Regulator is to narrow the scope of the delivery contract for the UK's New Payments Architecture (NPA) amid concerns about the current programme's "unacceptably high risks".

29 July 2021