Last Update February 11th, 2022. Faster Payment System (FPS) is a real-time settlement service designed to connect banks with electronic payment systems.
Faster Payment System is also a popular method of payment for buying and selling bitcoin on a number of marketplaces.
If you are buying or trading bitcoin in high volumes with Faster Payment System our recommendation is to use Binance or Paxful for your trading needs.
Where To Buy Bitcoin With Faster Payment System
| Company | Fees | Countries Supported | |
|---|---|---|---|
 | Free | All countries | |
 | Free, 0.1% to 5% for sellers | Every country except for a few (see banned countries) |
Table of Contents
2 Ways To Buy Bitcoin With Faster Payment System
Binance
| Rating: | |
| Website: | binance.com |
| CEO: | Changpeng Zhao |
| Headquarters: | Malta, European Union |
| Founders: | Changpeng Zhao, Yi He |
| Founded: | 2017 |
| Customer service: | Knowledge Base |
Binance is a first-rate exchange for experienced traders who are looking for a respectable cryptocurrency marketplace to perform real-time trades.
With over 166+ cryptocurrencies available, both beginners and advanced traders have a myriad of tools and pairs available to them within one powerful trading platform.
Binance accepts deposits in over 50+ currencies including USD, EUR, JPY, KRW, GBP, AUD, RUB, and many more.
Pros
- Trustworthy management
- High volume exchange
- Low fees
- A large number of cryptocurrency pairs
- Global support
Cons
- Few payment options
| Reputation | Fees | Privacy | Limits |
|---|---|---|---|
| Excellent | Low | High | High |
Paxful
| Rating | |
| Website: | paxful.com |
| CEO: | Ray Youssef |
| Headquarters: | New York, New York |
| Founders: | Ray Youssef, Artur Schaback |
| Founded: | 2015 |
| Customer service: | Knowledge Base |
| More information: | Read Review |
Paxful is a person-to-person marketplace that supports over 300 payment methods.
Paxful gives vendors the ability to create offers in all currencies.
Pros
- Escrow system
- Security
- Diverse payment methods
- Simple user interface (UI)
- Wide variety of sellers
Cons
- Buyers and sellers are at risk of being scammed
| Reputation | Fees | Privacy | Limits |
|---|---|---|---|
| Excellent | Low | High | High |
What Is Faster Payment System?
Launched in 2017, Faster Payment System (FPS) gives banking customers the ability to make payments across banks and e-wallets easily and efficiently, using only a mobile number or email address. The Faster Payment System operates 24 hours a day, 7 days a week.
Payments made using the Faster Payment System are available for the recipient immediately.
How Faster Payment System Works
Where Is Faster Payment System Supported?
All banks and e-wallet operators located in Hong Kong can participate in the Faster Payment System (FPS).