Bacs Payment Schemes Limited (Bacs), the organisation behind Direct Debit and Bacs Direct Credit in the UK, is calling on Payment Service Providers (PSPs) to review and respond to a white paper it has produced highlighting new ways of accessing and using all of its services.
2015 was yet another record breaking year for Bacs Payment Schemes Limited (Bacs). The company behind Direct Debit in the UK shattered previous highs for payments passing through its system, processing more than six billion transactions throughout the year.
On one day alone, in July, Bacs processed a massive 103 million Direct Debits and Bacs Direct Credits – that’s 6.7 million every hour the system was open, or 111,000 transactions each minute.
A London-wide campaign has delivered an impressive £2.5 million in cost savings for local authorities since 2010, simply by increasing the number of people paying council tax by Direct Debit.
The campaign, run by Bacs Payment Schemes Limited (Bacs) – the not-for-profit organisation behind Direct Debit in the UK –has seen councils across the capital benefit from the efficiencies delivered through increasing the number of those switching to Direct Debit.
Luisa Grey, a Director at Eazipay Ltd, one of the UK’s largest and fastest growing Direct Debit bureaux, shares her views and expertise on how to make debt collection just that little bit easier.
If you could create your perfect Christmas list, what would it look like? An end to famine and war? A solution to climate change? Cadbury's Crème Eggs being available all year round?
For many small businesses, one of the things they'd like Santa to stuff into his sack (although obviously not on top of the Crème Eggs as they might get squashed) would be an end to the chore of debt collecting.
Regular household bills are rising relentlessly despite inflation remaining flat, according to figures from the newly launched Bacs Bill Tracker, created by Bacs Payment Schemes Limited, the people behind Direct Debit in the UK.
A “basket” of the most common household bills paid by Direct Debit - including energy, water, mortgages and rent, council tax, broadband and phone, TV licensing, and household insurances – has been tracked, with historical data used to look back as far as 2007. And the data shows the average amount paid out has gone up from £565 in pre-recessionary June 2007 to £668 in June 2015.
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