PayPort for directly-connected non-settling participants


WHAT IS A DIRECTLY-CONNECTED NON-SETTLING PARTICIPANT?

A directly connected non-settling participant (DCNSP) 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.

The advantage of being a directly-connected non-settling participant 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 directly-connected non-settling participant of Faster Payments download our PayPort for directly-connected non-settling participants factsheet or visit the Faster Payments scheme website.

PayPort by Vocalink is the Faster Payments managed service gateway accredited for directly-connected settling and directly-connected non-settling participants. 

Faster Payments eco-system