Over 5 years of
Find out how the UK benefits from faster payments
Businesses and Government
Businesses are taking advantage of the almost instantaneous functionality and near universal reach of the service for payments to individuals such as wages to agency workers. The UK Government are also making emergency benefit payments to individuals in this way.
Consumers are the main users of the Faster Payments Service, accounting for almost 60% of the payments made last year.
Broader participation and wider adoption
The maturity of real-time payments in the UK is encouraging new customer propositions from innovative suppliers such as Barclay’s Pingit and Zapp, a person-to-business and person-to-business and merchant service.
VocaLink is a global payments partner relied on by financial institutions, corporates and governments - we underpin the majority of UK electronic payments. Our proven capability of implementing real time payment systems in the UK has led to the development of immediate payment solutions for other countries.
We are at the forefront of mobile payments and Zapp, the UK’s leading mobile payment innovation, is empowering consumers to be able to make secure real-time consumer to merchant payments through existing mobile banking services.