UK Payments Administration
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| Abbreviation | UKPA |
|---|---|
| Predecessor | Association for Payment Clearing Services |
| Formation | 6 July 2009 |
| Type | Limited company |
| Headquarters | 2 Thomas Moore Square London |
Region served | United Kingdom |
| Website | www |
The UK Payments Administration Ltd (UKPA) (previously APACS, the Association for Payment Clearing Services) is a United Kingdom service company that provides people, facilities and expertise to the UK payments industry. UKPA was created on 6 July 2009, as a successor of the Association for Payment Clearing Services (APACS) to support the systems behind UK payments, such as Bacs, CHAPS and the Cheque and Credit Clearing Company.
Initiatives
In 1994, APACS commissioned Bacs Limited to develop and deliver the Inter-Bank Data Exchange (IBDE) network service to facilitate the clearance of cheques between the member banks.
In the late 1990s and early 2000s, APACS coordinated the UK adoption of Chip and PIN smartcards.
In December 2005, the association of banks started the Faster Payments Service initiative to improve the speed of lower value consumer and business transactions, to be used in parallel with the CHAPS and BACS systems. Faster Payments began operation in 2008.
As APACS, it managed Card Watch, a UK banking industry initiative that aimed to raise awareness of card fraud prevention;[1] now superseded by Financial Fraud Action UK.
References
- ^ Card Watch, copy at the Internet Archive
External links
- Official website
- Cheque and Credit Clearing Company - the organisation that manages cheque clearing in the UK
- Financial Fraud Action UK