Which of the following describes payments processed via the FPS?

Payments processed via the Faster Payments Service (FPS) are designed to enable quick transactions, often allowing for funds to be credited within seconds. This service significantly enhances the speed of electronic payments, making them more efficient for both consumers and businesses. The key feature of FPS is its ability to facilitate near-instantaneous payment processing, which is particularly beneficial for urgent transactions that need to be settled quickly.

In contrast, other options do not accurately reflect the primary characteristics of FPS. For instance, the ability to settle within two business days generally applies to other types of payment methods, such as BACS (Bankers' Automated Clearing Services), rather than the FPS. Similarly, while FPS transactions can only occur on business days, this is a standard limitation for many payment systems, rather than a unique characteristic of FPS. Lastly, FPS is primarily designed for low to medium-value transactions, contrasting with high-value payment systems that often involve different processing routes. Thus, the option highlighting the speed of transaction completion is the most accurate reflection of what FPS offers.