Over 5 years of
Faster Payments

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.

Consumer

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.

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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.

The Banker Technology Projects of the Year 2014 Back Office Winner
Central Banking Awards
The 10th Real IT Awards

Spotlight on Faster Payments

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