Types of Payments
Here you will find information about the different types of payment methods and payment systems widely-used in the UK.
Plastic Cards
This section details the different types of plastic cards, the history of plastic cards and the card transaction process. More
Automated Payments
Technology continues to impact on the way we make payments and increasingly we are choosing automated ways to pay. More
Cheques and bankers' drafts
This section explains what cheques and bankers’ drafts are; what the cheque clearing cycle is; and explains the 2-4-6 changes. More
Cash
2,500 years after the first use of coins as payment tokens, in volume terms, cash is still our most common payment method. More
CHAPS
This section includes information about CHAPS, which is an electronic bank-to-bank payment made within the UK in sterling. More
Cross-border payments
This sections includes information about the Single Euro Payments Area (SEPA), and the Payment Services Directive (PSD). MoreFaster Payments
Faster Payments is the first new payments service to be introduced in the UK for more than 20 years. More
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Latest News
- New Card and Banking Fraud Figures Published (10 March 10)
- Payments Council welcomes three new members (1 February 10)
- Credit card industry proposes changes to help put consumers firmly in control of their finances (19 January 10)