Bacs posts new record for Direct Debit transactions | Eazipay Direct Debit News
 

Bacs posts new record for the number of payments processed in a single day

May 4, 2016

An impressive 103.7 million payments were processed in just one day in April by Bacs Payment Schemes Limited (Bacs), the organisation behind Direct Debit and Bacs Direct Credit in the UK – a new record for the number of transactions in a single day.

That’s the equivalent of 6.7 million payments passing through the Bacs system each hour the processing window was open (15.5 hours), or 111,000 per minute.

The record-breaking figure, set on Thursday 28 April, surpasses the previous daily high of 103 million transactions set just last year on 31 July 2015.

Making regular payments by Direct Debit has become second nature for millions of consumers, with almost nine-out-of-ten adults in the UK having at least one Direct Debit and around 73 per cent of household bills paid this way.

And nearly 90 per cent of the country’s workforce is paid using Bacs Direct Credit and almost one billion welfare payments are made this way every year.

Bacs CEO, Michael Chambers, said “This new milestone is not only a testament to the continued popularity of Direct Debit and Bacs Direct Credit as payment and collection methods among consumers and business, but also confirms the importance of Bacs to the UK financial infrastructure.”

For further press information, please contact:

Damion Clark at Real PR (Consultants) LLP. Tel: 01353 667934 or 07789 911314 Email:  damion@realpublicrelations.com

Eazipay Limited are authorised and regulated by the Financial Conduct Authority, number 615816 under the Payment Services Regulations 2009 for the provision of payment services. www.fca.org.uk
The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk

© eazipay 2015 | sitemap

site by prussian blue + tIMC