Glossary
FPS (Faster Payments Service)

FPS (Faster Payments Service)

FPS (Faster Payments Service) is a UK payment system that enables near real-time bank transfers between participating banks and financial institutions, typically within seconds.

GLOSSARY
What is a
FPS (Faster Payments Service)

Table of contents

Heading 2
Heading 3
Share this article
Glossary

Stay Connected with Us!

Follow us on social media to stay up to date with the latest news, updates, and exclusive insights!

Glossary

More to explore

What is a
Expiry Date (Card Expiry Date)

Expiry Date (Card Expiry Date)

Expiry Date is the month and year printed on a payment card, indicating when the card becomes invalid and must be replaced.
What is a
ZKP (Zero-Knowledge Proof)

ZKP (Zero-Knowledge Proof)

ZKP is a cryptographic method that allows one party to prove knowledge of information without revealing the information itself, used in advanced authentication and privacy-preserving payment solutions.
What is a
ZIP (Buy Now, Pay Later Provider)

ZIP (Buy Now, Pay Later Provider)

ZIP is a buy now, pay later (BNPL) service offering instalment-based payments for online and in-store purchases.
What is a
Zeroisation

Zeroisation

The secure deletion of cryptographic keys and sensitive data from hardware security modules (HSMs) or other secure devices to prevent unauthorised use.
What is a
Zero-Rating

Zero-Rating

Refers to goods or services that are taxed at a 0% VAT rate, affecting invoice and payment calculations.
What is a
Zero-Auth (Zero-Amount Authorisation)

Zero-Auth (Zero-Amount Authorisation)

An authorisation request for a value of £0 used to validate a card before charging it. It confirms card validity without reserving funds.
View all