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SEPA Instant Credit Transfer
SEPA Instant Credit Transfer Scheme – What You Need To Know
Starting in November 2017, the Single Euro Payments Area (SEPA) Instant Credit Transfer scheme – SCT Inst – will allow businesses and consumers to make instant transactions of up to 15,000 euros in real time to any bank account within the EU. Transactions are guaranteed to be completed within ten seconds. The scheme came about […]
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Digital fraud attack
Is Secure Direct Debit the Answer to Fraud Attacks?
Fraudsters can be accused of plenty of things, but a lack of persistence, or inactivity, certainly isn’t one. Research from the Global Fraud Attack Index shows that fraud attacks jumped by 137% in the year ending March 2016. The result is that fraud now affects $7 out of every $100 of global retail spend. The […]
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Brazilian flag
Visa ‘Ring’ the Payment Changes at the Rio Olympics
As a forward-thinking payment service provider we love keeping a close eye on the FinTech space to see what’s around the corner. In recent years, contactless technologies – including radio-frequency identification (RFID) and near-field communication (NFC) – have revolutionised point-of-sale payments, and it seems safe to assume that we haven’t seen the end of innovation […]
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New record for direct debit
INFOGRAPHIC: BACS Smashes Daily Record for Payments Processed
Bacs Payment Schemes Limited (Bacs), formerly known as Bankers’ Automated Clearing Services, was founded in 1968 to facilitate and maintain the integrity of the clearing and settlement of UK automated payment methods – Direct Debit and Bacs Direct Credit. Since then, Bacs has processed more than 110 billion transactions. As a Bacs-approved bureau, we were […]
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BACS security update deadline
BACS Compliance Deadline Looming
Does your business use BACS to pay its suppliers and staff? If the answer is yes, it’s time to sit up and pay attention to new security requirements, which could prevent you from using the payment system if you do not upgrade before 19th September 2016. Originally slated to take place on 13th June, the […]
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