Costs and Benefits of Building Faster Payment Systems: The U.K. Experience and Implications for the United States Costs and Benefits of Building Faster Payment Systems: The U.K. Experience and Implications for the United States

By Claire Greene, Marc Rysman, Scott Schuh, and Oz Shy

This paper studies the economic cost-benefit analysis behind the decision by the United Kingdom on how to implement its Faster Payments Service (FPS), which allows consumers and businesses to rapidly transfer money between bank accounts, and draws implications for the U.S. payments system.

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