Last month:

• In June, Faster Payments processed 379.4 million payments, which is an 18% increase on the amount processed in June 2022.
• These payments amounted to a total of £315 billion for the month. This is a 20% increase on June 2022’s total.

Last Quarter:

• Q2 of 2023 saw 1,115 million payments processed by Faster Payments, a 14% increase on the amount processed in Q2 for 2022.
• The total amount of payments processed during this quarter was £914 billion, which is a 15% increase on 2022 Q2 ‘s total.

Last year

• 2022 saw Faster Payments break the record for the highest amount of payments processed in a single year.
• 2021 saw 3.4 billion payments processed, whereas in 2022 the figure grew to over 3.9 billion.
• In total, there were 518 million more payments processed than in 2021. This is an increase of 15%.
• Faster Payments broke the record in 2022 for the number of payments processed in a single year.
• £2.6 trillion was transferred via Faster Payments in 2021. In 2022 however, over £3.2 trillion was transferred.
• In total, the amount processed in 2022 rose by £645.5 billion compared to 2021. This is an increase of 25%.