New record for Direct Debit and Bacs Direct Credit payments
December 6, 2018
• New record of 123 million payments processed in a single day by Bacs
• Beats previous record of 114 million transactions recorded in August of this year
A new daily processing record has been set by Bacs Payment Schemes Limited (Bacs), the organisation behind Direct Debit and Bacs Direct Credit in the UK.
The new record of 123 million transactions was set on Thursday 29 November, surpassing the previous high of 114 million, which was recorded just three months earlier, and represents an increase of nearly 8 per cent.
The news underlines the continued appeal of automated payments to UK businesses and consumers, and comes on the back of a memorable 2017 in which Bacs processed over 6.34 billion payments, worth a total in excess of £4.9 Trillion.
This included over 4.2 billion Direct Debits - a year-on-year increase of 3.8 per cent, or 155 million payments - while Bacs Direct Credit saw values increase to £3.6 trillion, up 3 per cent on the previous 12 months.
Andy Hollingdale, general manager of Bacs, said:
“This year has been a momentous one for Bacs; not only are we now part of Pay.UK and are playing our part in creating the future of retail payments in the UK, but 2018 has also seen us celebrating our 50th anniversary. So, to be ending the year by setting new records is particularly fitting and is the perfect way to see out our half-century.”
For further press information, please contact:
Damion Clark at Real PR (Consultants) LLP. Tel: 01353 667934 or 07789 911314 Email: firstname.lastname@example.org