PAYPORT FOR DIRECTLY CONNECTED PARTICIPANTS


WHAT IS A DIRECTLY CONNECTED PARTICIPANT?

A Directly Connected Participant (DCP) of the Faster Payments Scheme is a payment service provider (PSP) that connects directly to the central infrastructure of Faster Payments with a 24/7 real-time gateway.

Directly Connected Participants are required to have a reserve account for settlement at the Bank of England to settle their own transactions at each settlement cycle.

The advantage of becoming a Directly Connected Participant of Faster Payments is the ability to transact in real-time 24/7.

To find out more about the benefits and requirement to become a directly-connected settling participant of Faster Payments download our PayPort for Directly Connected Participants factsheet or visit the Faster Payments Scheme website.

PayPort by Vocalink is the Faster Payments managed service gateway accredited for Directly Connected Participants and Directly Connected Non-settling Participants. 

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