The bank grants access to non-bank payment service providers (PSPs), offering direct access to the UK’s sterling payment systems. It worked together with the UK’s Financial Conduct Authority (FCA), HM Revenue and Customs and HM Treasury to develop the framework for non-bank PSPs to access RTGS.
The PSPs will be subject to a supervisory assessment, applications being reviewed first by the payment schemes and BoE. For further details on how to apply, the bank says PSPs should contact relevant payment scheme.
In September 2016, BoE published a consultation paper on the RTGS service and in May 2017 it released its blueprint for a renewed RTGS, including plans to interface with blockchain and APIs.
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