PayPort for Direct Participants

Factsheet

A Direct Member 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 Member of the Faster Payments Scheme is a Payment Service Providers (PSP), which connects directly to the Central Infrastructure of Faster Payments with a 24/7 real-time gateway. Members are required to have a Reserve Collateral Account for settlement at the Bank of England to settle their own transactions at each settlement cycle.

For PSP’s with plans to apply for a Banking Licence, the advantage of becoming a Direct Member of Faster Payments is the ability to transact in real-time 24/7 and also the possibility to become a sponsor for Direct Agencies and therefore open a new revenue stream.

Download the factsheet to learn more.

 

PayPort for Direct Members

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