News: N.P.S.O


#1

Faster Payments and Bacs are now part of the same body, as the Bank of England announced the New Payment System Operator.


#2

Do we celebrate this news or nod sagely? In other words does this make any difference?

Oh and happy cake day


(Hugh Wells) #3

They are owned by the same company (Vocalink) if that helps?


#4

Info only. Nothing to get excited over. Though there is a claim it will lay the grounds for increased competition


#5

NPSO will also take responsibility for the Cheque and Credit Clearing Company over the next few months, the Bank of England said.


#6

Cheque clearing as well (edit: you posted while I was typing)

I choose sagely

Oh and don’t look up npso and choose the urban dictionary definition :eyes:


#7

Never use the Urban Dictionary, it is also known as Perve-Wiki due to the number of sick and twisted contributions


#8

The NPSO website

Http://Www.newpso.uk/


(Andre Borie) #9

increased competition

The whole concept of Faster Payments is that it’s just a message queue for banks to talk with each other, there’s no real value that can be added by a new member. Honestly the “message queue” service should just be provided by the government at no cost for any financial institution that wishes to connect, no need for competition here.