Faster Payment System statistics
- In August, Faster Payments processed 295.4 million payments, which is a 31% increase on the amount processed in August 2020.
- These payments amounted to a total of £216 billion for the month. This is a 31% increase on August 2020's total.
- Quarter 1 of 2021 saw 763 million payments processed by the Faster Payment System, a 15% increase on the amount processed in Q1 for 2020
- The total amount of payments processed during this quarter was £597 billion, which is a 15% increase on 2020 Q1 's total.
- 2020 saw the Faster Payment System break the record for the highest amount of payments processed in a single year
- 2019 saw 2.4 billion payments processed, whereas in 2020 the figure grew to over 2.9 billion
- In total, there were 410 million more payments processed than in 2019. This is an increase of 17%
- Faster Payment System broke the record in 2020 for the number of payments processed in a single year
- £1.9 trillion was transferred via the Faster Payment System in 2019. In 2020 however, over £2.1 trillion was transferred
- In total, the amount processed in 2020 rose by £159.2 billion compared to 2019. This is an increase of 8%.
Faster Payment System - Values for the previous 12 months