LONDON, 31 May 2024 - The Bank of London announces a strategic partnership with payments specialists, allpay Limited, to simplify and expedite payments for everyone, whether they have a bank account or not, through easily manageable prepaid cards.

As part of the multi-year strategic partnership, the two companies will leverage their respective strengths and expertise to grow allpay’s prepaid card business in the public sector and support organisations focused on providing targeted care and support. This is particularly important in social housing, wellbeing, and welfare.

allpay is a market leader of payment services in the UK public and social housing sector, providing a range of payment channels to more than 50% of UK local authorities, large national public sector bodies, the Scottish Government and 90% of the UK’s top 200 housing associations. allpay handles nearly £9 billion in payment transactions annually and serves more than 4.5 million end customers.

“At allpay, we’re working to better serve the needs of millions of people who want to pay for goods and services and manage their bills in the most flexible, convenient and secure way,” said allpay’s Managing Director, Michelle Pacey. “We are committed to driving financial inclusion for businesses and individuals. The Bank of London understands the importance of what needs to be done and how to help us to make this a reality,” added Tony Killeen, Founder and Entrepreneur.

The Bank of London Group CEO and Founder Anthony Watson CBE said: “allpay has an ambitious growth strategy focused on uplifting people and communities in ways that champion financial empowerment. We are proud to be supporting their business with a partnership designed to deliver real innovation, efficiencies, and growth for allpay and the millions of people it serves.”

Under the terms of the partnership, The Bank of London will manage payment flow needs between allpay, a number of the clients it supports, and those using financial support top-ups on prepaid cards. This means making sure payments are routed accurately and efficiently to intended recipients.

By partnering with The Bank of London, allpay benefits from the bank’s purpose-built platform and one of the most comprehensive, modern, and flexible bank API offerings in the UK market.

The bank has a very different business model to pretty much every other bank. It does not loan, lend or leverage any client or customer money like other banks do. All deposits are held at the Bank of England, available on demand. This ‘safer by design’ approach focused on supporting clients and uplifting their value proposition was a primary consideration with the partnership.

With a showcase on cutting-edge payment technologies as well as further information on the new partnership and market engagement into what it means to the sector moving forward, allpay’s stand (#7E90) at Money20/20 in Amsterdam June 4-6, will take centre stage for all things finance and payments.

About allpay

As a business we pride ourselves on making payments easy. We stand as a leading payments specialist in the UK, facilitating the seamless collection and distribution of funds between organisations and their customers.

Established by Tony Killeen, Founder and Entrepreneur, in 1994, allpay has consistently been at the forefront of payment aggregation, processing over £8.8 billion annually for over 900 public and private sector entities. With over three decades of experience, we now process in excess of 90 million transactions annually, offering a comprehensive bill payment solution that encompasses all major payment methods.

Our commitment to innovation has led us to pioneer the introduction of Prepaid Cards within the Public Sector. From card design to printing and fulfilment, all aspects are handled by our dedicated team. We are also proud to serve over 500 Housing Associations (HAs) and ALMOs, with 90% of the top 250 HAs in England and nearly 60% of all UK Local Authorities (LAs) choosing allpay for their bill payment services.

What sets us apart is our unwavering commitment to security and compliance. We adhere to the highest standards of PCI DSS compliance, hold various ISO certifications, maintain Bacs-approved Bureau status, and boast accreditations from Mastercard and Visa. In essence, allpay is the preferred payment supplier for the public sector, offering reliability, security, and efficiency in every transaction.

For more detailed information please visit

About The Bank of London

The Bank of London is a principal UK clearing bank. With a ‘safer by design’ approach different to other banks, no deposits with the bank are loaned, invested, or leveraged. All client money is held securely at the Bank of England, available on demand.

The bank provides business-to-business banking solutions including:

  • Agency, clearing, payment and settlement solutions
  • Embedded Banking (BaaS), making it possible for companies to embed regulated banking products into their own customer offerings, under their own brand and powered by the bank’s licence and platform;
  • Commercial Banking, serving SMEs as well as corporate, government and institutional clients

The Bank of London is authorised by the Bank of England’s Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

For more information visit:, contact us at [email protected] or follow us on X or Instagram at @thebankoflondon.


The Bank of London

Gavin Haycock

[email protected]


Andy Smith

[email protected]

Payments Innovation Forum Ltd is registered in England and Wales under company number 05955151 at 86-90 Paul Street, London, EC2A 4NE.
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