PayPort for Direct Agencies


WHAT IS A DIRECT AGENCY?

A Directly Connected Non-Settling Participant (DCNSP) or Direct Agency of the Faster Payments Scheme is a Payment Service Provider (PSP) which connects directly to the Central Infrastructure of Faster Payments with a 24/7 real-time gateway.

A Direct Agency, however, does not hold a Reserve Account for settlement at the Bank of England and therefore needs a Sponsor who can perform settlement, and authorise the transactions.

The advantage of being a Direct Agency is the ability to connect directly to Faster Payments and transact in real-time 24/7 without the need to become a full-fledged bank and go through the application process for a banking licence, which is what is currently required to hold a Reserve Account.

To find out more about the benefits and requirement to become a Direct Agency of Faster Payments download our PayPort for Direct Agencies factsheet or visit the Faster Payments Scheme.

PayPort by Vocalink is the Faster Payments Managed Service Gateway accredited for Direct Participants, Sponsors and Direct Agencies. 

Vocalink and Starling have joined forces to enable PSP access to Faster Payments in the UK, meeting your requirements for immediate payments and helping you overcome many of the barriers to entering this payments system.

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Faster Payments eco-system

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