Cross-border payments company FairFX is joining the U.K.’s Faster Payments Scheme after the Bank of England granted the firm settlement accounts. In an announcement on Tuesday (Feb. 19), FairFX said its subsidiary, Spectrum Payment Services, has been cleared by the U.K.’s central bank for settlement...
Retailers say that card processing fees take a bite out of sales. Then why not, asks Marion King, director of payments at NatWest, remove card rails and replace them with new, real-time payment rails? In this month's Faster Payments Tracker, King says using new real-time...
The United Kingdom’s Payments Systems Regulator (PSR), along with the Bank of England, said Thursday that they’d agreed to a framework that would govern consolidation of the Cheque and Credit Clearing Company and the Faster Payments Scheme and Bacs. Reuters stated that the U.K.’s “multi-trillion...
ClearBank, the clearing bank in the U.K., announced Tuesday (March 28) it has become a direct participant of Faster Payments, the UK’s 24/7 real-time payment service. In a press release, ClearBank said its addition into the Faster Payments Access Program is another milestone for the...
December 20, 2019
The PIT digital currency exchange of Blockchain.com is one of the few exchanges to turn on the U.K. Faster Payments Scheme, The Block reported. The Faster Payments Scheme, as it stands, is a U.K. banking effort that cuts payment times between the customer accounts of different banks to a matter of seconds from three working […]
May 05, 2017
The United Kingdom’s Payments Systems Regulator (PSR), along with the Bank of England, said Thursday that they’d agreed to a framework that would govern consolidation of the Cheque and Credit...
March 29, 2017
ClearBank, the clearing bank in the U.K., announced Tuesday (March 28) it has become a direct participant of Faster Payments, the UK’s 24/7 real-time payment service. In a press release,...
