BACS Payment Schemes Limited

43 results about this entity

Period: 12 Oct 2004 - 01 Mar 2019

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/payments

UK payments schemes consolidated under Pay.UK banner

Pay.UK is the new home for Bacs, Faster Payments, and Cheque and Credit Clearing and, as of today (1 March) it is also the formal home of their people, a skilled team with a wealth of experience across the UK’s complex payments industry.

New Payment System Operator takes over responsibility for Bacs and Faster Payments

Operational responsibility for the Bacs and Faster Payments systems, which process a combined £6.3 trillion worth of payments annually, has today (1 May 2018) transferred to the New Payment System Operator (NPSO).

Starling Bank joins Bacs

Starling Bank, one of the new breed of mobile-only challenger banks, has joined Bacs Payment Schemes Limited (Bacs); the bank becomes the latest participant to offer access to systemically important payment methods, Direct Debit and Bacs Direct Credit, to its commercial customers.

British banks simplify SME account opening process

British banks simplify SME account opening process

A group of British banks have come together to simplify the account opening process for small businesses, working with trade body UK Finance on a checklist of details and documents firms will need for their applications.

Latest Current Account Switch Service figures published

The latest figures for the Current Account Switch Service (CASS) are published today (24 January), showing that nearly 4.5 million (4,452,146) successful switches have taken place since the service launched in 2013.

Bacs publishes positive 2017 results

Figures released today show that 2017 was another record-breaking year for Bacs Payment Schemes Limited (Bacs), with over 6.34 billion payments, worth a total in excess of £4.9 Trillion, processed by the company behind Direct Debit in the UK.

UK's current account switching service gets new independent directors

Two new independent directors have been appointed by Bacs Payment Schemes Limited (Bacs) to the Current Account Switch Service Executive Committee, fulfilling a key undertaking set out by the Competition and Markets Authority (CMA).

Competition watchdog green lights plans to merge UK payment schemes

Competition watchdog green lights plans to merge UK payment schemes

The UK payments industry is facing further upheaval as the Competition and Markets Authority approves consolidation of the operators of Bacs, the Cheque and Credit Clearing Company and Faster Payments Scheme into a New Payments Systems Operator.

Record tumbles as Bacs sets new processing high

An impressive 120,000 transactions in a single minute – that’s the new record set by Bacs Payment Schemes Limited (Bacs), the organisation behind Direct Debit and Bacs Direct Credit in the UK.

Turkish Bank joins Bacs

A pioneering approach to access has seen Turkish Bank become the 18th and latest member of Bacs Payment Schemes Ltd (Bacs), the company behind Direct Debit and Bacs Direct Credit.

ClearBank joins Bacs

The first new UK clearing bank in more than 250 years, ClearBank, has become a member of Bacs Payment Schemes Ltd (Bacs), the company behind Direct Debit and Bacs Direct Credit, taking membership up to 17 leading financial institutions.

Bacs publishes Direct Debit consultation outcomes

The results of a comprehensive public consultation into Direct Debit will be a key theme at the Emerging Payments Association’s (EPA) Pay 360 Digital Payments Annual Conference today (24 May), following its publication by lead sponsor Bacs Payment Schemes Limited (Bacs).

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