Nuapay has been selected by the UK government to join the Crown Commercial Services (CCS) Payments Acceptance Framework.
The CCS launched the Payment Acceptance Framework in October 2019
The CCS has been adding select Payment Initiation Service Providers (PISPs) to its new scheme, designed to enable open banking services and reduce the cost of payment processing for the civil service.
Citizens and consumers make billions of pounds in debit and credit card payments to Government agencies.
When people make payments to government organisations they can consent to the government deducting money direct from their account. This bank-to-bank process removes card fees and charges.
The CCS believes that with the addition of firms like Nuapay public sector organisations will be able to take payments quickly and with minimal friction.
Some agencies within the government have already enabled bank transfers as a means of payment, something the Payments Acceptance Framework is aiming to expand.
Nuapay, which describes itself as a “pioneer” in the open banking field, claims to process around £40 billion in payments every year through its parent company Sentenial.
Among the PISPs on the programme are Worldpay, Global Payments, Token, Reflow, American Express, NatWest and TrueLayer.
“This is excellent news for the adoption of open banking payments.” comments Brian Hanrahan, Chief Commercial Officer of Sentenial, Nuapay’s parent company.
“Already this year, the number of UK consumers using open banking passed the one million milestone.
“As large public sector organisations begin accepting open banking payments, the cost and security benefits to consumers and businesses will become more visible and adoption will further increase.”
Related: Truelayer signs payment initiation deal with UK government
Source: https://www.fintechfutures.com/2020/06/nuapay-joins-uk-government-payment-acceptance-scheme/
