Faster payments RSS

The Faster Payments limit for Banks and Building Societies has been raised to £250,000 per payment from Tuesday 10 November 2015, following an increase to the scheme limit announced by Faster Payments Scheme Limited (FPSL). The increase from the previous £100,000 maximum is the first time the scheme limit has been increased since 2010. The change has [...]

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A new simpler way to guarantee settlement between banks of payments made through Faster Payments, the UK’s 24/7 real-time payments service, has been introduced as part of changes announced today (Monday 5 October 2015) by Faster Payments Scheme Limited (FPSL). The new ‘pre-funding’ settlement system has levelled the playing field for participating Payment Service Providers [...]

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Millions of Americans use their phones to buy things and send money to people, but the technology involved in moving towards real-time mobile payments in the US lags behind many other industrialized countries. Now the Fed Reserve is pushing for real-time mobile payments to become the standard in the US, said participants at a mobile payments industry conference last [...]

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