NPA in Depth
The NPA will allow us to support banks, building societies and other payment service providers (PSPs) in creating new products and capabilities which generate value for the sector, as well as consumers, businesses and the wider UK economy. These new payment innovations include a much wider range of real-time payment products – such as account to account payments – to serve the ever-evolving needs of end users as they shop, pay and manage their financial lives.
We will deliver various payment products enhanced by richer data. This will help PSPs spot suspicious and erroneous transactions more easily, while continuing to provide the payments experience that consumers and businesses expect and benefit from today.
A file-based service which allows users to submit large payment files.
A single payment message with multiple individual credits, one debit, which should allow us to improve processing efficiency for our customers and may enable early Bacs Credit migration.
Both of these submission options allow more efficient payments submission for use cases where facilitating large payment volumes is a priority.