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Pay.UK welcomes clear scope to deliver next generation payments platform

Pay.UK welcomes the Payment Systems Regulator’s publication setting out its decisions for reducing risks to the successful renewal of the UK’s interbank payments infrastructure.

As part of its public consultation on the delivery and regulation of the New Payments Architecture (NPA), the PSR today confirmed its decision on the scope and procurement of the NPA.

Following the PSR publication, Pay.UK will now continue to work collaboratively with industry, regulators, consumers and business advocates, to focus on the delivery of the NPA.

David Pitt, CEO said:

“The NPA will deliver the next generation of interbank payments infrastructure, ensuring robust and resilient payments, enhanced by richer data, and enabling competition and innovation to deliver more choice for end users.

“Today’s announcement takes us a step closer to delivering the financial market infrastructure that will make tomorrow’s payments happen.”