Faster Payments is the UK’s real-time interbank payment service, operated by Faster Payments Scheme Limited, a wholly-owned subsidiary of Pay.UK, the recognised operator and standards body for the UK’s interbank retail payment systems.[1][2] The service enables near real-time transfers between customer accounts at participating banks, reducing settlement time from three working days to seconds.[3]
Design and History
The Faster Payments logo was registered as a European Union design (number 000961651-0001) by Faster Payments Scheme Limited on 1 July 2008, with the registration recorded as entered and fully published.[4] The design registration, filed under reference A14288, remains valid until 1 July 2028.[4]
In 2017, the New Payment System Operator was formed to create the UK’s leading retail payments authority, bringing together Bacs, Faster Payments, cheques and Paym under a single organisation.[5] The design agency SomeOne was tasked with creating a new master brand for the organisation, which was renamed Pay.UK.[5] SomeOne developed a continuously moving brand mark for Pay.UK, representing the organisation’s “gears in motion” and its desire to be the “beating heart” of UK payments.[5] The agency also created a Generative Logo Creator, an application allowing anyone to create their own version of the Pay.UK symbol.[5]
Pay.UK continues to operate the Faster Payment System alongside the Bacs Payment System and the Image Clearing System.[1]
Typography and Design
For the Pay.UK master brand, SomeOne selected Source Sans, Adobe’s first open source typeface family, primarily designed for user interfaces, for the word mark and brand typography.[5] The brand world also features a black and white colour palette alongside photography depicting real-life end users across the UK.[5]
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