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Direct access

An organisation is considered to have direct access to a payment system if they are able to provide payment services as a result of having an arrangement with the payment system operator (PSO). This means that the organisation is considered a direct participant of the payment system.

Direct access is subject to certain criteria, which serves to protect the stability, security and resilience of the respective payment system(s). This also ensures new participants of the payment systems are able to comply with the relevant rules, and meet the responsibilities and obligations associated with payment system participation.

Organisations also need to consider the technical aspectof becoming a direct participant, such as the connection made from an organisation’s IT infrastructure to the payment system, in order to enable transactions to be processed.

If you are interested in becoming a direct participant of any of our payment systems (the Bacs Payment System (Bacs), the Faster Payment System (FPS) and the Image Clearing System (ICS)) and would like further information on your options, please refer to our ‘Getting Started’ in the first instance or contact the onboarding team at access@wearepay.uk.

Access criteria

A payment system’s access criteria may also require organisations to hold the appropriate operational licences, such as a banking licence.

Information on the licences and regulations that apply to those who offer banking and payment services, and the process, by which to obtain the relevant licence(s), can be found on the Financial Conduct Authority and Prudential Regulation Authority websites.

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