UK challenger, Metro Bank, has become a fully operational participating financial provider of Faster Payments, the UK’s 24/7 real-time payment service. As the 13th direct participant, it will also become the first new High Street bank to connect directly since the initiative was launched in 2008 (a further 400 PSPs access it indirectly through a sponsor bank).

Aisling Kane, Chief Operating Officer at Metro Bank, says: “Today’s announcement marks another important milestone in our journey to provide the British public with a true banking alternative, and as we continue to go from strength to strength, we remain as committed as ever to enhancing our customers’ banking experience.”

Craig Tillotson, Chief Executive of Faster Payments, comments: “Metro Bank is the second organisation this year to join the Faster Payments Scheme. Their participation underlines the revolutionary contribution our New Access Model is starting to make by enabling payment service providers of all shapes and sizes to offer their customers the real-time, 24/7 payments they demand.”

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by Scott Thompson
Scott is Senior Editor at IBS Intelligence. You can follow him on Twitter and contact him at: