Who we are

Pay.UK is the recognised operator and standards body for the UK’s retail interbank payment systems.  We provide the digital payments networks used by the UK’s banks, building societies, other payment providers and all of their customers to make payments, ensuring they are secure, safe and simple to use.

We were created in July 2017 (as the New Payment System Operator) and launched as Pay.UK in 2018, bringing the three national retail payment schemes – the Bacs Payment System, the Faster Payment System and the Cheque and Credit Clearing Company (now the Image Clearing System) – together, into a single, consolidated operation.

This fulfilled a key Payments Strategy Forum recommendation: for the UK to have one retail interbank payment system operator – us – working alongside the Bank of England’s wholesale operations, CHAPS, and the real-time gross settlement (RTGS) payment system.

We are supervised by the Bank of England’s Financial Market Infrastructure Directorate (FMID) and regulated by the Payment Systems Regulator (PSR).