T8: Volume of transactions processed by selected payment systems
(millions, unless otherwise stated; total for the year)| Year | |||||
|---|---|---|---|---|---|
| 2017 | 2018 | 2019 | 2020 | 2021 | |
 Large-value payment systems | |||||
| CHAPS Sterling | |||||
| Total gross volume | 42 | 49 | 49 | 45 | 48 |
| Breakdown of 'total gross volume' by instrument type | |||||
| Credit transfers | 42 | 49 | 49 | 45 | 48 |
| Direct debits | 0 | 0 | 0 | 0 | 0 |
| Cheques | 0 | 0 | 0 | 0 | 0 |
| Card and e-money payments | 0 | 0 | 0 | 0 | 0 |
| Other payment instruments | 0 | 0 | 0 | 0 | 0 |
| Partial breakdown of 'total gross volume' | |||||
| Of which: volume of settlement in the PS in question for other PSs | nav | nav | nav | nav | nav |
| Breakdown of 'volume of settlement in the PS in question for other PSs' by PS whose transactions are settled | |||||
| Concentration ratio in terms of volume (%) | 72.30 | 66.20 | 65.20 | 64.50 | 64.70 |
| Retail payment systems | |||||
| BACS | |||||
| Total gross volume | 6,347 | 6,444 | 6,510 | 6,458 | 6,522 |
| Breakdown of 'total gross volume' by instrument type | |||||
| Credit transfers | 2,121 | 2,088 | 2,034 | 1,945 | 1,920 |
| Direct debits | 4,227 | 4,356 | 4,476 | 4,512 | 4,603 |
| Cheques | 0 | 0 | 0 | 0 | 0 |
| Card and e-money payments | 0 | 0 | 0 | 0 | 0 |
| Other payment instruments | 0 | 0 | 0 | 0 | 0 |
| Number of netting cycles | 1 | 1 | 1 | 1 | 1 |
| Cheque/credit | |||||
| Total gross volume | 310 | 276 | 272 | 195 | 158 |
| Breakdown of 'total gross volume' by instrument type | |||||
| Credit transfers | 17 | 14 | 14 | 7 | 5 |
| Direct debits | 0 | 0 | 0 | 0 | 0 |
| Cheques | 293 | 262 | 258 | 188 | 153 |
| Card and e-money payments | 0 | 0 | 0 | 0 | 0 |
| Other payment instruments | 0 | 0 | 0 | 0 | 0 |
| Number of netting cycles | 1 | 1 | 1 | 1 | 1 |
| LINK | |||||
| Total gross volume | 3,105 | 2,917 | 2,608 | 1,643 | 1,522 |
| Breakdown of 'total gross volume' by instrument type | |||||
| Credit transfers | 3,105 | 2,917 | 2,608 | 1,643 | 1,522 |
| Direct debits | 0 | 0 | 0 | 0 | 0 |
| Cheques | 0 | 0 | 0 | 0 | 0 |
| Card and e-money payments | 0 | 0 | 0 | 0 | 0 |
| Other payment instruments | 0 | 0 | 0 | 0 | 0 |
| Number of netting cycles | 1 | 1 | 1 | 1 | 1 |
| Fast payment systems | |||||
| Faster Payments Service | |||||
| Total gross volume | 1,656 | 2,043 | 2,440 | 2,850 | 3,418 |
| Breakdown of 'total gross volume' by instrument type | |||||
| Credit transfers | 1,656 | 2,043 | 2,440 | 2,850 | 3,418 |
| Direct debits | 0 | 0 | 0 | 0 | 0 |
| Cheques | 0 | 0 | 0 | 0 | 0 |
| Card and e-money payments | 0 | 0 | 0 | 0 | 0 |
| Other payment instruments | 0 | 0 | 0 | 0 | 0 |
| Number of netting cycles | 3 | 3 | 3 | 3 | 3 |