Pay.UK

Pay.UK is the trading name for NPSO Limited, the UK's leading operator of retail payment systems. Formed in 2017 from the consolidation of Bacs Payment Schemes Limited (Bacs), Cheque and Credit Clearing Company Limited (C&CCC), and Faster Payments Scheme Limited (FPSL), Pay.UK oversees the infrastructure and standards that underpin the vast majority of UK payments.

Pay.UK is responsible for the operation and strategic development of these payment systems, ensuring they are reliable, efficient, and secure. The organization plays a critical role in maintaining the UK's payment ecosystem and supporting innovation in the payments industry. Its responsibilities include:

• Operating Payment Systems: Overseeing the secure and reliable operation of Bacs Direct Credit, Direct Debit, Faster Payments, and cheque clearing.
• Setting Standards: Establishing and enforcing the rules, standards, and procedures for participants in its payment schemes.
• Facilitating Innovation: Supporting the development of new payment products and services.
• Stakeholder Engagement: Working with banks, building societies, payment service providers, regulators, and other stakeholders to ensure the payment systems meet the evolving needs of the UK economy.
• Addressing Fraud: Implementing measures to prevent and detect payment fraud.

Pay.UK is regulated by the Payment Systems Regulator (PSR) and works closely with other regulatory bodies, including the Bank of England and the Financial Conduct Authority (FCA). The organization is committed to promoting competition, innovation, and consumer protection within the UK payments landscape.