Faster Payments Service

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Revision as of 21:38, 25 August 2013 by imported>Doug Williamson (Spacing)
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(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