Report

Costs and benefits of building faster payment systems: the U.K. experience and implications for the United States


Abstract: 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.

Keywords: fast payments systems; account-to-account (A2A) transfers; person-to-person (P2P) payments; cost-benefit analysis;

JEL Classification: G21; E41; G12; E51; E42;

Access Documents

File(s): File format is application/pdf http://www.bostonfed.org/economic/current-policy-perspectives/2014/cpp1405.pdf
Description: Full text

Authors

Bibliographic Information

Provider: Federal Reserve Bank of Boston

Part of Series: Current Policy Perspectives

Publication Date: 2014-10-10

Number: 14-5

Pages: 47 pages