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According to the organisation, 3,907,719 payments were completed on December 1st - the highest daily volume since the service started in May.

Apacs said in a report published yesterday that approximately two-thirds or payments made via phone and internet were now done using the system.

In addition, four in ten credit card accounts use the payment process, which can help consumers ensure money reaches its destination quicker.

David McFarlane is the company manager for Chaps, which oversees the Faster Payments Service.

He said next year is set to be a period when even more people can use the system.

"We hope that 2009 will be the year that the Faster Payments Service is made available for even more internet, phone and standing order payments," he added.

Meanwhile, earlier this month saw Apacs publish a new report into the payment habits of the UK.

It found that consumers in East Anglia were most likely to own a debit or credit card, while adults in the north-west were most likely to use online or phone banking.

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** 16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable). **
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