Lloyds apologises after Faster Payments System problems The banking group is now processing the backlog of payments and standing orders. It says that all payments will be processed to reach recipients accounts by Tuesday. Anyone experiencing problems should contact their bank. The Faster Payment system was launched in May 2008 to enable phone, internet and standing order payments to transfer quickly. A spokeswoman for the Faster Payments scheme said: "Lloyds Banking Group has confirmed that a full Faster Payments service was available to customers from 5pm. The central Faster Payments system, and any systems processing other types of payments, have continued to operate as normal throughout.