Industry News

Bacs Direct Debit consultation
How Can Direct Debit Be Improved?
Direct Debit remains one of the UK’s most popular payment methods, used by over 90% of personal current account holders, and by around 40,000 organisations. In the decades since it was first introduced, Direct Debit has proved to be a simple, transparent and straightforward payment method for businesses and customers alike. But in the face […]
Read More
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 […]
Read More
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 […]
Read More
Pay your road tax by direct debit
Has Road Tax Moving to Direct Debit Given Consumer Confidence a Boost?
Could the move towards Direct Debit as a primary payment method for road tax provide a major boost to consumer confidence? While Direct Debit is nothing new – indeed, the earliest form of an automatic debit transfer system dates back to the 1960s – the popularity of it as a payment method continues to grow […]
Read More
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 […]
Read More