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News > Fintech

Atom bank joins Bacs Payment Schemes

Martin Greenland | 16:59 Wednesday 9th January 2019

Atom bank has joined Bacs Payment Schemes Limited (Bacs).

It is claimed that the digital bank is the fourth payment service provider in less than 12 months to sign up to Bacs, which is owned by Pay.UK.

Mark Mullen, CEO at Atom bank (pictured above), said it was delighted to have joined Bacs and that this was a critical milestone in Atom’s journey.

“This will give our customers more control over facilitating payments and allow us to expand our growing portfolio in the future.

“Alongside our participation in the Faster Payments Scheme, being able to settle our own payments with Bacs means that both our customers and future commercial partners have access to this critical infrastructure through Atom’s next-generation architecture.

“We’re very excited at the prospect and at what we can do with this capability in the future.”

Paul Horlock, chief executive at Pay.UK, added: “We are committed to enabling a vibrant UK economy, and a payments industry that delivers for all of its end users, whether that’s individuals or businesses.

“Key to achieving that is embracing innovation and driving diversification; Atom bank embodies the former and – with its membership of Bacs – helps us to achieve the latter.

“I’m really pleased to have them on board.”

In December, Digital Mortgages by Atom bank announced that it would be rebranded under the Atom bank brand.

 

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