Pay.UK is the UK’s retail payments operations, which include the Bacs Payment System, the Faster Payment System and the Image Clearing System. They also deliver a variety of services relating to payments, such as the Current Account Switch Service, Confirmation of Payee and Request to Pay.
Pay.UK’s purpose is to power payments, champion innovation and give the UK choice in how it pays. They enable individuals and organisations in the UK to transfer money to others whenever they need to, quickly, safely and cheaply.
Through their infrastructure and services, they enable billions of pounds of payments, safely and securely, every single day. It means that they have a critical role supporting the UK economy. Their technology, rules and standards, plus associated controls and policies, combine to give them a powerful payments platform. They continually build on this platform, reinforcing their position of leadership in the payments market and beyond.
Pay.UK’s vision is to be the smartest way to move money, now and in the future.
As the recognised operator and standards body for the UK’s interbank retail payment systems, Pay.UK are supervised by the Bank of England’s Financial Market Infrastructure Directorate (FMID) and regulated by the Payment Systems Regulator (PSR).
