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

Claire Greene, Marc Rysman, Scott Schuh and Oz Shy

No 14-5, Current Policy Perspectives from Federal Reserve Bank of Boston

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 payments; cost-benefit analysis (search for similar items in EconPapers)
JEL-codes: E41 E42 E51 G12 G21 (search for similar items in EconPapers)
Pages: 47 pages
Date: 2014-10-10
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (10)

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