We have published an open letter to Pay.UK Limited.
Pay.UK is the new body that currently operates important payment systems including Bacs and Faster Payments. It is responsible for developing and delivering the New Payments Architecture (NPA), including a competitive procurement process for the NPA’s central infrastructure services (CIS).
Our open letter sets out our thinking about potential risks and issues in relation to our statutory objectives, in particular competition and innovation, which could arise from potential outcomes of Pay.UK’s procurement process for the NPA CIS.