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Paul Horlock, Chief Executive Officer steps down

Paul Horlock has announced that he will step down as Chief Executive Officer at Pay.UK to join Santander as Chief Payments Officer. The Board of Pay.UK will immediately embark on the selection of a new CEO and the smooth transition of authority.

Since his appointment in October 2017, Paul has presided over a significant period of change to the UK’s retail payment operations. This included the merger of the UK’s retail payment schemes in 2018, including the Bacs Payment System, Faster Payment System and the Cheque & Credit Clearing Company. Pay.UK was then recognised as the UK’s critical national retail payment system operator, effectively realising the industry’s blueprint for a consolidated, robust and resilient operation, which will drive access to, and competition in retail payments.

Under Paul’s leadership Pay.UK launched new payment standards and services, including Confirmation of Payee and Request to Pay, which will bring end users of payments greater control, protection and value from retail payments. During his time, Pay.UK has also embarked on the programme to modernise the UK’s bank to bank retail payments infrastructure following the acceptance of the blueprint for the New Payments Architecture in December 2017.

It has been a privilege to lead Pay.UK at such an exciting and important time for UK retail payments. As the inaugural Executive Officer and a founding member of the Board at Pay.UK, I was appointed to lead the establishment of a new, independent retail payment system operator, to bring about the merger of three payment systems and to realise the vision of the industry for robust and resilient operations, which set the foundation for greater access and competition in retail payment systems in the future.

We have made significant progress towards modernising retail payments in the UK, particularly with regard to the commencement of the New Payments Architecture Programme and the launch of new payment standards, including Confirmation of Payee and Request to Pay.

I am proud of the organisation we have created and am confident that Pay.UK will achieve great success in the future from the firm foundations we have set.

Said Paul Horlock

I want to thank Paul for his dedication and commitment to Pay.UK. He has played a fundamental part in the establishment of this organisation and our status as the recognised operator of retail payment systems in the UK. We look forward to the next phase of our development when, alongside the industry, we can build on the strong legacy that Paul has left us. We all wish him the very best for the future.

Said Mark Hoban, Chair of Pay.UK

The Board of Pay.UK will now embark on the process to secure a new Chief Executive Officer, during which time Matthew Hunt, the current Chief Operating Officer, will take up the position of Interim Chief Executive Officer following appropriate regulatory engagement.

It has been a pleasure to work alongside Paul. We have coordinated together as founding Executive Directors during the formative phase of Pay.UK and I am grateful for Paul’s commitment and experience. He leaves us in a strong position to continue our role as operator of the UK’s critical retail payment infrastructure and, until a new CEO arrives, I am looking forward to working with the Board, the Executive and wider industry on continuing progress in the areas required by our regulators, participants and end users. On behalf of the Executive Committee and all of our colleagues, I wish Paul well in his new role.

Said Matthew Hunt, Chief Operating Officer