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The Bank of England is announcing today that a new generation of non-bank payment service providers is now eligible to apply for a settlement account in the Bank’s RTGS system.
Holding their own settlement account at the Bank enables these non-bank PSPs to apply, for the first time, for direct access to the UK’s sterling payment systems that settle in sterling central bank money, including Faster Payments, Bacs, CHAPS, LINK, Visa, and, once live, the new digital cheque imaging system.
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