faster payments

Faster Payments Service (FPS) is a UK banking initiative to reduce payment times between different banks' customer accounts from the three working days that transfers take using the long-established BACS system, to typically a few seconds.

Source: en.wikipedia.org

TRENDING: How Travel Insurers Use Push Payments To Help Travelers In Trouble

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October 03, 2018  |  Disbursements

Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....

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Maybe Isaac Newton — the hopelessly hopeful alchemist who came up with some solid rules of physics — was a genius of business and even...

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