The UK Payment Council have just released the figures for the clearing volumes in the UK in February 2015, see below
Source & Copyright©2015 - UK Payment Council
They show that:
- BACS standing orders growing at 1% /annum
- BACS direct debits are now growing at 4% /annum
- BACS credits have reached a level as the Faster Payments Service single immediate payments are taking all the new growth and are increasing by 20%+ / annum
- Cheques continue to decline at -12% / annum
- CHAPS transactions are still growing at 4% / annum, while the average value / transaction decline continues at -3% / annum and is at present £121,586/payment.
UK payment market shares
- Transactions: Faster Payments now processes 91% of BACS volumes, and is likely to overtake BACS in the 3-4 months. CHAPS processes 4.8% of total transactions.
- Value: Faster Payments processes 65% of BACS value. CHAPS processes 91.9% of total value.
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