UK Payments Administration: Difference between revisions
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{{more citations needed|date=April 2011}} |
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{{Infobox organisation |
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| name = UK Payments Administration Ltd |
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[[Image:UKPA logo.jpg|frame|right]] |
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| image = UK Payments Administration.png |
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| size = 200px |
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| abbreviation = UKPA |
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| predecessor = Association for Payment Clearing Services |
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| formation = 6 July 2009 |
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| type = [[Limited company]] |
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| headquarters = 2 Thomas More Square<br/>London, E1 |
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| location = |
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| region_served = United Kingdom |
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| website = {{url|http://www.wearepay.uk/}} |
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}} |
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The '''UK Payments Administration Ltd''' ('''UKPA''') is a [[United Kingdom]] service company that provides people, facilities and expertise to the UK payments industry. |
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The '''UK Payments Administration Ltd''' ('''UKPA''') (previously APACS, the '''Association for Payment Clearing Services''') is a [[United Kingdom]] trade organisation that brings together all [[payment system]]s organisations and gives banks, building societies and card issuers a forum where they can work together on non-competitive issues. It covers most forms of payments within the UK including [[cash]], [[credit card]]s, [[debit card]]s, [[cheque]]s, and automated payments such as [[direct debit]]s, salary payments and online/phone transactions. |
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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|Bacs]], [[CHAPS]] and the [[Cheque and Credit Clearing Company]]. APACS had been created in 1985<ref name="APACS">{{cite book|last1=Wood|first1=Frank|last2=Sangster|first2=Alan|title=Frank Wood's business accounting UK GAAP|date=2008|publisher=FT Prentice Hall|location=Harlow, England|isbn=9780273718765|page=128|edition=1st }}</ref> to oversee the majority of UK payment clearing systems and keep their operational efficiency and integrity in order. [[Theresa May]] is a former employee.<ref>{{Cite news|date=2016-07-25|title=Who is Theresa May: A profile of UK's new prime minister|language=en-GB|work=BBC News|url=https://www.bbc.com/news/uk-politics-36660372|access-date=2021-09-26}}</ref> |
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It has been responsible for the creation of rules regarding customer liability in cases of card and [[cheque fraud]] and starting in 2004 oversaw and guided the transition of debit cards to [[Chip and PIN]]. |
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UKPA was created on the July 6, 2009, as a direct successor of the 'Association for Payment Clearing Services' (APACS) to act as a portal company for each of the respective sectors of UK payment services such as [[BACS]], [[CHAPS]], the [[Cheque and Credit Clearing Company]] and other businesses. |
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== Standards == |
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The UKPA standards define both procedural and technical practice for: |
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*Debits (including [[cheques]]) |
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*[[Standing order (banking)|Standing order mandates]] |
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*Coin packaging and banknote wrappers |
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*Magnetic media interchange |
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*Interchange data formats |
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*[[EFTPOS]] device communications |
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*Other services |
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== UKPA members == |
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{{col-begin}}{{col-3}} |
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* [[Bank of America]] |
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* [[Bank of England]] |
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* [[Bank of Ireland]] |
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* [[Bank of Scotland]] |
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* [[Barclays Bank]] |
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* [[Capital One]] |
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* [[Citigroup]] |
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* [[The Co-operative Bank|Co-operative Bank]] |
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* [[Deutsche Bank]] |
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{{col-3}} |
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* [[DnB NOR]] Bank |
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* [[Egg Banking plc|Egg]] |
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* [[GE Capital]] |
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* [[HSBC Finance|HFC Bank]] |
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* [[HSBC]] |
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* [[JPMorgan]] |
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* [[Lloyds TSB]] |
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* [[MBNA]] |
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* [[Morgan Stanley]] |
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{{col-3}} |
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* [[National Australia Bank|NAB]] |
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* [[Nationwide Building Society]] |
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* [[National Westminster Bank]] |
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* [[Northern Rock]] |
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* [[Royal Bank of Scotland]] |
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* [[Royal Mail]] |
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* [[Santander UK]] |
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* [[Standard Chartered Bank]] |
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* [[Wachovia]] |
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{{col-end}} |
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== Initiatives == |
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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. |
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In the late 1990s and early 2000s, APACS coordinated the UK adoption of [[Chip and PIN]] smartcards. |
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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. |
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As APACS, it managed Card Watch, a UK banking industry initiative that aimed to raise awareness of card fraud prevention;<ref>[http://replay.waybackmachine.org/20090604165821/http://www.cardwatch.org.uk/ Card Watch], copy at the [[Internet Archive]]</ref> now superseded by Financial Fraud Action UK. |
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==See also== |
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*[[Payments Council]], payments industry body that sets strategy for UK payments |
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==References== |
==References== |
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{{ |
{{Reflist}} |
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==External links== |
==External links== |
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*{{Official website|http://www.ukpayments.org.uk/}} |
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*[http://www.chequeandcredit.co.uk Cheque and Credit Clearing Company] - the organisation that manages cheque clearing in the UK |
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*[http://www.financialfraudaction.org.uk/ Financial Fraud Action UK] |
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{{Authority control}} |
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[[Category:Financial services companies established in 2009]] |
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[[Category:Payment systems organizations]] |
[[Category:Payment systems organizations]] |
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[[Category:Banking terms and equipment]] |
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[[Category:Banking technology]] |
[[Category:Banking technology]] |
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[[Category:2009 establishments in the United Kingdom]] |
[[Category:2009 establishments in the United Kingdom]] |
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[[Category:Organizations established in 2009]] |
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[[pl:APACS]] |
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[[ru:APACS]] |
Latest revision as of 21:19, 5 April 2022
This article needs additional citations for verification. (April 2011) |
Abbreviation | UKPA |
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Predecessor | Association for Payment Clearing Services |
Formation | 6 July 2009 |
Type | Limited company |
Headquarters | 2 Thomas More Square London, E1 |
Region served | United Kingdom |
Website | www |
The UK Payments Administration Ltd (UKPA) 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. APACS had been created in 1985[1] to oversee the majority of UK payment clearing systems and keep their operational efficiency and integrity in order. Theresa May is a former employee.[2]
References
[edit]- ^ Wood, Frank; Sangster, Alan (2008). Frank Wood's business accounting UK GAAP (1st ed.). Harlow, England: FT Prentice Hall. p. 128. ISBN 9780273718765.
- ^ "Who is Theresa May: A profile of UK's new prime minister". BBC News. 2016-07-25. Retrieved 2021-09-26.