Treasury News Network

Learn & Share the latest News & Analysis in Corporate Treasury

  1. Home
  2. Payments - Receipts
  3. Regular Bill Payments from Businesses

UK clearing statistics for August 2012: Faster Payments is growing at 44%/year even in recession and

The latest clearing statistics from the UK's Payments Council shows major differences in annual growth rates

  • Faster Payments (the same-day bulk clearing system) grew by 44% overall and growth rates for the components were:
    • standing order payments - 24% (282 million)
    • single immediate payments - 51% (326 million)
    • forward dated payments - 111% (100 million)
    • return payments - 64% (1 million)
  • cheques and paper credit fell by 12%.

Only 677 million cheques and paper credit were processed in August compared to 709 million Faster Payments.

Bulk same day clearing systems are becoming more and more popular world-wide; the issue is how to incorporate these systems into your company's payment and collection processes.

Like this item? Get our Weekly Update newsletter. Subscribe today

Add a comment

New comment submissions are moderated.