Pay.UK

Pay.UK maintains and develops the UK retail payment systems and standards that are core to the economy being able to function on a day-to-day basis. From Bacs to Faster Payments and cheques – they act as the single operator for all UK retail payments. They put the needs of consumers and businesses at the heart of everything they do, working in the public interest to ensure that the systems the country relies on for its banking transactions are safe, open, innovative and resilient. Their payment systems underpin the services that enable funds to be transferred between people and institutions. In 2024, the UK's retail payment systems processed 11 billion transactions worth over £10 trillion through Bacs Direct Credit, Direct Debit, Faster Payments, and cheques, and their Current Account Switch Service has facilitated over 9 million switches since its launch in 2013. Their vision is to enable a vibrant economy, delivering best-in-class payment infrastructure and standards for the benefit of consumers and businesses nationwide.