Wednesday, 5 August 2015

More Records for Bacs Payments

Image result for direct debit

There is little doubt that Bacs payments have been a huge success. Just this week Bacs announced that they had broken another record, which was over 103 million payments processed in a single day. Just take a second to think  about the scale of that 103 million payments in one day!  That's 6.65 million payments per hour or nearly 111 000 every minute that the payment window is open. I'm sure Bacs couldn't have envisaged reaching that kind of figure when they started out.

Breaking down that 103 Million a bit further, there was 91 Million Direct Debits and 12 Million Bacs Direct Credits. So Direct Credits has some way to go. Since Eazipay launched a Direct Credit service, we have seen good steady growth.

Bacs also announced this week that since their inception in 1968 they have processed 110 billion transactions, which they went on to say that is a similar number of people that have ever walked the earth. Incredible.

We nearly all use Direct Debit in one way or another, with eight out of ten adults having at least one payment, and the vast majority of household bills are paid via Direct Debit too.

Obviously, we are a little biased, but it is pretty clear that DD is here to stay and is such a huge part of our lives now. It offers so many advantages to not only the consumer but businesses too. You can see more about those on our website Eazipay has seen tremendous growth. Since 2008 – to end July 2015, when we started recording our figures, Eazipay have processed £1,308,058,451.75 in Direct Debits alone!!, And we are continuing to grow as more and more people use this fast, efficient service.

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