Pay.UK is the new home for Bacs, Faster Payments, and Cheque and Credit Clearing and, as of today (1 March) it is also the formal home of their people, a skilled team with a wealth of experience across the UK’s complex payments industry.
This is the final stage of bringing these important payment brands together under the Pay.UK roof, and follows on from the announcement of the company’s name (October 2018). Importantly, there will be no discernible difference for participants, service users, and end users other than a new email address: @wearepay.uk
Paul Horlock, CEO of Pay.UK, said: “While teams from across the brands have already been working together for some time, we’re really pleased to formally welcome these driven, enthusiastic, and experienced people to our Pay.UK family. With this expert team now officially in place, we’re even better placed to maintain, develop, and guard the payment systems and standards which are the lifeblood of the UK economy.
“For those we work with, rest assured it is very much business as usual across all areas of the organisation and our stakeholders should continue to reach out to their contacts as normal.”
Every day, individuals and businesses use the services provided by Pay.UK to receive or pay salaries, settle bills, and make online and mobile banking payments - more than £7 trillion moved through Bacs Direct Credit, Direct Debit, Faster Payments, Paym, and cheques in 2018.