UK Payments Administration

(redirected from APACS)
Also found in: Acronyms, Wikipedia.

UK Payments Administration

A trade organization in the United Kingdom that provides banks, credit card companies, and other financial institutions with a forum under which they can process payments and work together in areas in which they do not compete. It sets national standards for debits, standing orders, and other types of payments. It organized and oversaw the UK's transition to the chip and PIN system. It was known as the Association for Payment Clearing Services (APACS) until 2009.
References in periodicals archive ?
Our business and contractual relationship with Wonderware accelerated the migration of our APACS system to the Windows NT operating environment.
The alliance continues to provide enhancements to APACS with the upcoming release of ProcessSuite 2.