Faster Payments

Faster Payments Scheme Limited (FPSL) is the company that enables Mobile, internet, telephone and standing order payments to move quickly and securely, almost at the touch of a button, 24 hours a day. At its launch in 2008, Faster Payments was the first new payments service to be introduced in the UK for more than 20 years.

In the first seven years of operation, over five billion Faster Payments have been sent and in January 2015, 100 million payments were processed in a month for the first time. Virtually all internet and telephone banking payments in the UK are now processed via Faster Payments.

Ten banks and building societies are Participants of the scheme, and over 400 other financial institutions are able to offer the service, making Faster Payments available to more than 52 million current account holders in the UK.

We believe that the world-leading service we offer should be available to as many customers as possible.

To ensure that Faster Payments is available on a level playing field to all end users that need or want them, the Scheme has been working to understand the access challenges faced by current and emerging Payment Service Providers (PSPs) of all shapes and sizes.

To meet these needs, a New Access Model is currently in development to sit alongside the four current options for PSPs to access Faster Payments.

Faster Payments Scheme Limited is a not-for-profit company, owned and operated by its Participants. Participation in the scheme is open to any financial institution that is able to meet the necessary technical requirements.

Company Growth (employees)
London, GB
Size (employees)
40 (est)+6%
Faster Payments is headquartered in London, GB

Faster Payments Office Locations

Faster Payments has an office in London
London, GB (HQ)
2 Thomas More St

Faster Payments Data and Metrics

Faster Payments Financial Metrics

Faster Payments's revenue was reported to be £40 m in FY, 2015 which is a 17% increase from the previous period.

Revenue (FY, 2015)

40 m

Revenue growth (FY, 2014 - FY, 2015), %


Cash (31-Dec-2015)

2.8 m
GBPFY, 2013FY, 2014FY, 2015


33.7 m34.2 m40 m

Revenue growth, %


Pre tax profit

202.8 k
GBPFY, 2013FY, 2014FY, 2015


2.2 m3.1 m2.8 m

Accounts Receivable


Current Assets

2.9 m3.5 m3 m


16.5 k10.9 k

Total Assets

2.9 m3.5 m3 m

Accounts Payable

16.5 k12.4 k858.4 k

Current Liabilities

1.1 m1.7 m858.4 k

Total Equity

1.8 m1.8 m2.2 m

Financial Leverage

1.6 x1.9 x1.4 x
GBPFY, 2013FY, 2014FY, 2015

Cash From Operating Activities

835.3 k(267.4 k)

Income Taxes Paid

(20)(2.8 k)
Y, 2015

Financial Leverage

1.4 x

Faster Payments News and Updates

Faster Payments Company Life and Culture

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