Faster Payments Service

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Revision as of 11:20, 29 November 2014 by imported>Doug Williamson (Linked to The Treasurers Handbook - Payments and payment systems)
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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


Other links

UK Faster Payments Service, ACT Briefing note, 2008