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Which Payment Process Needs a Complete Refit? | FF News at MoneyLive

By Lauren Towner · 21 March 2025

Attendees at MoneyLive discuss outdated UK payment systems including CHAPS, BACS, cheques, and Faster Payments Service needing modernization.
CHAPS, BACS, Cheques and FPS are all used to keep the UK economy turning, and with some legacy banks having major problems with their payment systems in recent weeks - which payment process gives the attendees of MoneyLIVE the ICS? We asked them and while there was a varying amount of answers there was a clear winner.

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