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Last Update April 11th, 2021. 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

 CompanyFeesCountries Supported
Binance Icon
Binance

FreeAll countries
Paxful Icon Resized
Paxful

Free, 0.1% to 5% for sellersEvery country except for a few (see banned countries)

2 Ways To Buy Bitcoin With Faster Payment System

Binance

Binance Homepage

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

ReputationFeesPrivacyLimits
ExcellentLowHighHigh

Paxful

Paxful Homepage

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

ReputationFeesPrivacyLimits
ExcellentLowHighHigh

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).