The early years
Bacs began life in 1968 as the world's first automated clearing house, transforming how salaries and bills were paid in the UK and laying the foundations for modern banking.
About Us
Our Heritage
FPS UK brings together decades of UK payments history — uniting the operators behind Bacs, Faster Payments and cheque clearing under one roof to build the next generation of national payments infrastructure.
1968
Bacs launched
2008
Faster Payments launched
2018
FPS UK consolidated
Faster, then real-time
The launch of Faster Payments in 2008 introduced near-instant transfers, putting the UK at the forefront of real-time retail payments and reshaping how people send money.
Consolidation
In 2018 the operators of Bacs, Faster Payments and the Cheque & Credit Clearing Company merged to form FPS UK — a single, simpler organisation with a unified mission.
Looking forward
Today we're building the next chapter — the New Payments Architecture — designed to power UK payments for the decades ahead.