UK Payments Administration

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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 ?
Moore APACS (replacement I/O modules available later in 2003)
Because of our migration program's past success, and industry studies like these which support our approach, we are making our migration option available to Moore APACS users.
APACS has certified TROY's family of 8- to 32-page-per-minute MICR (magnetic ink character recognition) printers, which allow customers to securely produce checks, money orders and other financial documents from blank check stock.
According to Mark Patton, president and chief operating officer of TROY Systems International, "Today TROY is the only desktop MICR solutions provider that meets the rigorous APACS standards.
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.