Non-Bank Acquirer Elavon Next To Benefit From Bank of England Access Overhaul

Elavon has become the first non-bank acquirer to gain direct access to the UK’s Faster Payments System, making the US-owned payments firm the latest to benefit from the Bank of England’s vaunted competition reforms.

Faster Payments launched its revamped access scheme early last year, aiming to let smaller financial institutions compete with banking heavyweights by plugging directly into its near-real-time fund transfer scheme.

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