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Pay.UK Information Requests

Pay.UK occasionally receives information requests from participants and customers on a range of company matters including those about its policies on various subjects, operational issues and risk management.  Due to the high volume of requests received, Pay.UK is unable to respond individually to each one.

It is helpful to note, however, that Pay.UK is regulated by both the UK’s Payments System Regulator and the Bank of England’s Financial Market Infrastructure Directorate (FMID). It is required by the Bank of England to complete an annual self-assessment against the CPMI-IOSCO Principles for Financial Market Infrastructures (PFMI). These PFMIs are the international standards for systemically important financial market infrastructures, such as payment systems, central securities depositories and central counterparties. The Pay.UK self-assessment provides a review of its operations, risk frameworks and performance, a copy of which is provided to its regulator FMID. The latest annual report can be found here: Corporate Information.

Participants and customers are also advised to refer to the participation agreements, rules and related documents which set out their rights and obligations as a payment system participant as well as providing information about how the systems operate.

Pay.UK operates and grants access to the UK’s three interbank payment systems including any services connecting with them to qualifying participants and customers. Participation in the payment systems is contingent on the participant’s and customer’s ability to meet and continue to comply with the eligibility criteria of the relevant payment system.
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