Elavon joins Faster Payments

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Elavon, a leading global payments provider and subsidiary of U.S. Bancorp (NYSE:USB), has become the first dedicated payments provider and eCommerce business to directly connect to the Faster Payments service in the United Kingdom.

Faster Payments is the only UK payment system available day and night, 365 days per year, to support the demands of personal and business customers.

Elavon is the latest of new generation of Payment Services Providers (PSPs), challenger banks and Fintech companies connecting directly to Faster Payments to promote greater accessibility to consumers and businesses.

Previously only major banks and Building Societies enjoyed direct access to the scheme until the new access model – delivered by Faster Payments in collaboration with the Bank of England, FCA and HM Treasury

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