UK Faster Payments (2008)
The UK launched Faster Payments in 2008, a system that cut interbank payment settlement from three days to near-instant for retail transactions. It was a major shift in how British banks moved money.
Faster Payments handled millions of transactions in its first years.
It became the backbone of UK retail payments, processing billions of transactions annually.
Faster Payments showed how a shared infrastructure change can transform everyday payments. Tokenised deposits aim to add programmability on top of that speed.
