The UK’s new payment system operator (NPSO) has appointed Paul Horlock as its chief executive officer, who will take up the position on 1 October 2017.

Horlock has working in the financial industry for more than 15 years, most recently at Nationwide, where he held a number of positions including head of group service management and director of payments. Prior to that, Horlock worked for eight years at Barclays Bank, with roles including head of global payment processing.

The appointment of the new chief executive follows the successful creation of the NPSO in July this year, which saw the consolidation of Bacs Payment Schemes, Faster Payments Scheme, and the Image Clearing System – which will replace the paper processing system for cheques currently managed by the Cheque and Credit Clearing Company.

Commenting on his appointment, Horlock said: “I am thrilled to be asked to take up the role of CEO for the new payments system operator. Taking up the role of chief executive of a company that is a vital part of this country’s financial infrastructure is a huge privilege and I look forward to helping to shape its future, whilst ensuring that all parts of society benefit from having a robust and dynamic payments platform in place.

“This is one of those ‘once in a lifetime’ opportunities; the combination of acceleration in consumer expectation, with the chance to pull together experts in their field and the mandate to project from a resilient, world-leading capability to deliver the future of the UK’s payments industry.

“I am particularly looking forward to working hand-in-hand with the gamut of payment system users, big and small, in order to deliver a payment system for the UK that enables competition to thrive whilst providing the foundation for innovation to flourish. I can't wait to work with the team and collaborate with the wider stakeholders in the market to pursue the mission of a globally-competitive payments industry.”

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