Tagged: pay.uk

Bank of London Becomes Directly Connected Settling Participant of Bacs

The Bank of London, the technology company and the “world’s first” purpose-built global clearing, agency, and transaction bank, announced it has become a Directly Connected Settling Participant (DCSP) of Bacs, which is “owned and operated by Pay.UK, the recognized operator and standards body for the… Read More

LHV UK Introduces Confirmation of Payee to Address APP Fraud

LHV UK, a banking services provider to more than 200 Fintech and crypto firms, is pleased to announce its Confirmation of Payee (CoP) service is currently live for all its direct clients. Introduced in July 2020, CoP is a fraud prevention system that’s led by… Read More

Over 8M Current Accounts in the UK Moved Under “Ditching” and Switching Service: Report

Over 8 million current accounts have reportedly been switched since a service making it a lot easier for clients to swap their banks or building society was introduced. The Current Account Switch Service (Cass) was introduced back in 2013 in order to remove all the… Read More

UK Fintech Modulr Raises Faster Payments Limit to £1M for Customers, As Default

The team at UK Fintech Modulr notes that they are pleased to let their clients know that their Faster Payments transaction limit has “increased from £250,000 to £1 million for inbound and outbound payments, in line with the retail payments authority, Pay.UK, which went into… Read More

Pay.UK Releases Technical Info for Entities Aiming to Implement ISO 20022, and Transition to Improved Retail Payments

The New Payments Architecture (NPA) will aim to offer various benefits for businesses and personal clients residing in the United Kingdom, which may assist with improving the way they control their professional and personal transactions while creating more innovation opportunities. The adoption of the ISO… Read More

UK Fintech Modulr Reportedly Becomes First Non-bank or Building Society to Join Confirmation of Payee Service

Earlier this week, Modulr reportedly became the very first non-bank or building society to join the Confirmation of Payee service, which allows people to check whether the payment details they’ve provided for an individual or company match the details that are held by the recipient’s… Read More

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