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Chris Dunne, Payment Services Director at VocaLink celebrates the fifth anniversary of the Faster Payments Service in the UK.
This is a moment of pride for VocaLink - and for me since I was involved in the FPS program at a Top 5 UK Bank. But, it was also humbling for me to learn from a UK-based business associate yesterday that, while he knew about CHAPS and BACS, he'd no clue
about FPS. And, to think that banks aren't even levying any fees for FPS... On second thoughts, if only banks had charged for FPS, the common man might be more familiar with it by now!
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