New payment system operator formed 
September 13, 2017

The UK is soon to have a new payment system operator. The Payment Systems Regulator (PSR) and Bank of England (BoE) have today announced that the Payment System Operator Delivery Group (PSODG) has completed the necessary steps to deliver against the mandate that the regulators tasked it with. 

Following the appointment of Melanie Johnson as its first chair, work will continue at pace to deliver the New Payment Systems Operator (NPSO) by the end of 2017. With the NPSO now taking the lead, the PSR and the BoE have confirmed the closure of the PSODG. 

The PSR and BoE established the PSODG with the specific aim of planning for the consolidation of the operators of three payment systems: Bacs Payment Schemes Ltd (BPSL), Cheque and Credit Clearing Company (C&CCC) and the Faster Payments Scheme Ltd (FPSL). These payment systems support people and businesses in the UK moving money between bank accounts. 

Both the PSR and the BoE also tasked the PSODG with forming recommendations on the detailed design of the NPSO and producing a plan that would allow for the consolidation to be completed by the end of 2017.





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The UK is soon to have a new payment system operator. The Payment Systems Regulator (PSR) and Bank of England (BoE) have today announced that the Payment System Operator Delivery Group (PSODG) has completed the necessary steps to deliver against the mandate that the regulators tasked it with. 

Following the appointment of Melanie Johnson as its first chair, work will continue at pace to deliver the New Payment Systems Operator (NPSO) by the end of 2017. With the NPSO now taking the lead, the PSR and the BoE have confirmed the closure of the PSODG. 

The PSR and BoE established the PSODG with the specific aim of planning for the consolidation of the operators of three payment systems: Bacs Payment Schemes Ltd (BPSL), Cheque and Credit Clearing Company (C&CCC) and the Faster Payments Scheme Ltd (FPSL). These payment systems support people and businesses in the UK moving money between bank accounts. 

Both the PSR and the BoE also tasked the PSODG with forming recommendations on the detailed design of the NPSO and producing a plan that would allow for the consolidation to be completed by the end of 2017.



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