Update from the Bank of England and The Payment Systems Regulator on new payment systems operator

In a joint press release issued today, the Bank of England (BoE) and The Payment Systems Regulator (PSR) announced that a New Payment Systems Operator (NPSO) had been created by the Payment System Operator Delivery Group (PSODG) who were charged with this task.

The creation of the NPSO forms part of the PSR and BoE’s plan for consolidating three payment systems operators: Bacs Payment Schemes Ltd, Cheque and Credit Clearing Company and the Faster Payment Scheme Ltd.  The consolidation of these operators is expected to complete by the end of the year.