Access to payment systems

Access to the UK’s payment systems is vital for organisations providing the payment services their customers need. To help meet this need, and in collaboration with the UK’s primary payment schemes, we have created a website to serve as an online focal point for any organisation that needs to access payment systems.

The Access to Payment Systems website is designed to improve the disclosure and transparency of information for participants in payment systems, enabling greater visibility and access to information across payment systems. It presents links to individual payment schemes and helps Payment Service Providers (PSPs) to make comparisons across both direct and indirect access offerings, and between different sponsor banks.

The Access to Payment Systems website also hosts the Code of Conduct for Indirect Access Providers.

This voluntary Code of Conduct was developed in response to the findings of the Payment Systems Regulator’s (PSR) consultation paper CP14, “A New Regulatory Framework for Payment Systems in the UK”. The findings were published in March 2015 in the form of the PSR’s policy statement PS15/1 and its annexes, which recommended the development of a Code of Conduct to increase confidence in the supply of Indirect Access and lead to improved outcomes for service users.

Responses to this Consultation were collated by the Code Administrator and shared with the PSR so that it could consider the responses alongside its market review into indirect access. For further information on the Consultation please visit the Consultation page.

Pay.UK acts as the administrator for the Access to Payments website, and code of conduct, providing information on the payment schemes that are part of the Pay.UK (BacsCheque & Credit and Faster Payments), as well as CHAPS and LINK.

Access to UK Payment Schemes for non-bank payment service providers

Access to UK Payment Schemes for non-bank payment service providers information pack is a guide for authorised payment and e-money institution payment service providers (“non-bank PSPs”) that would like to access the UK’s interbank payment schemes directly, as opposed to via a sponsor bank. It outlines the framework by which non-bank PSPs can apply to open a settlement account at the Bank of England (the “Bank”), in order to become a direct participant of a payment scheme. You can download the document below.