Faster Payment System statistics
- In January, Faster Payments processed 351.4 million payments, which is a 19% increase on the amount processed in January 2022.
- These payments amounted to a total of £304 billion for the month. This is a 31% increase on January 2022's total.
- Q3 of 2022 saw 1,007 million payments processed by Faster Payments, a 14% increase on the amount processed in Q3 for 2021.
- The total amount of payments processed during this quarter was £840 billion, which is a 26% increase on 2021 Q3 's total.
- 2021 saw Faster Payments break the record for the highest amount of payments processed in a single year.
- 2020 saw 2.9 billion payments processed, whereas in 2021 the figure grew to over 3.4 billion.
- In total, there were 568 million more payments processed than in 2020. This is an increase of 20%.
- Faster Payments broke the record in 2021 for the number of payments processed in a single year.
- £2.1 trillion was transferred via Faster Payments in 2020. In 2021 however, over £2.6 trillion was transferred.
- In total, the amount processed in 2021 rose by £496.7 billion compared to 2020. This is an increase of 24%.
Faster Payment System - Values for the previous 12 months