Faster Payments 'passes the million mark'
The new Faster Payments service, which offers near-instant money transfers from current accounts, is proving successful according to its operators.Payments association APACS has said that the system passed the million transfers a day mark on September 1st, under three months after its launch.Statistics from the body also show that, currently, 63.5 per cent of total UK internet and phone payments are now handled by Faster Payments.The average value of these transfers stands at £780.Moreover, APACS said that it expects usage to rise still further in the future, as more financial services providers come on board.Commenting on the news David McFarlane, CHAPS company manager said: "The first three months of Faster Payments have gone extremely well. We are now expecting banks and building societies to start to press on with the rollout so that more customers can start to enjoy the benefits of this new system and for more of their payments."
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