Faster Payments Service (FPS)

Functionality required to enable banks to enhance existing mobile banking options and deliver a true real-time interbank account-to-account mobile payments service.


Link to external site : Website for Faster Payments Service (FPS)
Faster Payments Service (FPS)
Brand
Launched in
Status
Launch
Importance
Traction
Evaluation
The service and infrastructure was launched on 27th May 2008. By the end of 2011 over 85% of phone and internet payments were being processed through Faster Payments. It has revolutionised the UK’s automated payments infrastructure and places this service in the world-beating category.
Register/Log In
Account Type
Bank Account
Register/Log In
Business Model
Class
Send Services Receive

Mobile


Web


Account


Cash

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BP

DMT

MP

PaySys
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Account


Cash


Mobile


Web

Model
cross-industry based
Upgrade to Bronze
Who Leads?
Reach
Active Users
Registered Users
Potential Mobile Market (m)
Regulations
Persona
Purpose
Active Services
Card Type
ServicesDescription
Channels
Payment Instruments
Cash I/O Description
Cash I/O No Of Locations
Handsets
Technologies
Interoperability
RegistrationProcess
Main Segment Banked
Segment Description

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