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Bank Of England Plans Panel To Standardize Payments Messaging

PYMNTS

continues its move to adopt the ISO 20022 payments messaging standard, the Bank of England is reportedly planning to create a panel aimed at streamlining the adoption of the standard for more efficient payments in the country. for the New Payments Architecture (NPA), which will clear and settle all of the U.K.’s

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UK Continues Payments Industry Consolidation

PYMNTS

. “The Cheque and Credit Clearing Company has developed a tremendous amount of trust in payments through the robust and secure exchange of checks and credits over 30 years, and is now revolutionizing the way checks are cleared through the ICS,” said NPSO Chief Executive Paul Horlock in a statement.