Faster Payments Service: Difference between revisions
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Revision as of 16:22, 15 June 2015
(FPS).
UK process for electronic payments, typically made via the internet or phone, to be processed in hours rather than days.
It allows credit transfers and standing orders to be paid in near real time. There is a maximum transaction amount. It is operated by VocaLink 24 hours a day, 7 days a week.
See also
- BACS
- Clearing House Automated Payment System
- Electronic commerce
- Faster Payments Scheme
- Payments and payment systems
- PSP
