Faster Payment System statistics
- In March, Faster Payments processed 327.1 million payments, which is a 12% increase on the amount processed in March 2021.
- These payments amounted to a total of £272 billion for the month. This is a 20% increase on March 2021's total.
- Q1 of 2022 saw 912 million payments processed by Faster Payments, a 19% increase on the amount processed in Q1 for 2021.
- The total amount of payments processed during this quarter was £728 billion, which is a 22% increase on 2021 Q1 '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