Chris Skinner's blog Shaping the future of finance
The UK's Faster Payments Service (FPS) celebrated its fifth birthday on 8th May.
Since 2008 the system has grown rapidly, as evidenced in the transaction volumes:
- an
overall transaction percentage increase of 181% - 735.6 million
annual transactions in 2012 - 900-950 million transactions anticipated in 2013
- processing around £740 billion a year
This makes it the largest real-time payment system for retail transactions operating today.
To celebrate VocaLink, who operate the service, sent me this infographic:
Nice.
