BACS reaches 100 million payments a day

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Over 103 million payments were processed in just one day at the end of July by BACS, the UK payment processing organisation.

BACS

BACS has achieved a record number of transactions in one day

BACS has already achieved a number of transaction records this year, but reached this major milestone on 31 July – the equivalent of 6.65 million payments an hour, or nearly 111,000 every single minute the processing window was open.

The figure included 91 million Direct Debits and 12 million BACS Direct Credits and surpasses the previous daily high of 99.3 million transactions, set in February 2015.

BACS CEO Michael Chambers said: “It is a testament to the continuing popularity of our products with consumers and businesses alike that, yet again, we are seeing processing records being broken. These two new milestones come after a record 2014, in which we processed almost six billion payments, representing the highest level of growth since 2007.”

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