Faster Payments – Public Consultation – Business Hours Proposition

Today, Faster Payments is launching a public consultation to assess the viability of developing a new “Business Hours” Direct Access proposition for Payment Service Providers (PSPs) that don’t offer a 24*7 service to their customers and/or lack the scale to operate on that basis.
Following the successful launch of the New Access Model launched in 2014 – that focused on opening access to PSPs interested in delivering 24*7 real-time payments to their customers – we are now looking at PSPs with smaller transaction volumes, that wish to offer real-time payments during normal business hours (05:00 and 18:00, Monday to Friday).

 

The consultation (attached to this email) is intended to further inform our understanding and help ensure that we continue to offer services that meet the needs of service users of all type and size.

 

Therefore, we are contacting you to gain your insights and feedback on the pros and cons of this proposition and to measure the potential demand for it. We would be grateful if you could respond in as much details as possible by the 13th January 2017.

 

Please return answers to development@fasterpayments.org.uk.

 

Please note that the information shared with us will remain confidential unless it has been anonymised.