T8: Volume of transactions processed by selected payment systems
(millions, unless otherwise stated; total for the year)| Year | |||||
|---|---|---|---|---|---|
| 2014 | 2015 | 2016 | 2017 | 2018 | |
 Large-value payment systems | |||||
| CHAPS Sterling | |||||
| Total gross volume | 37 | 38 | 39 | 42 | 49 |
| Breakdown of 'total gross volume' by instrument type | |||||
| Credit transfers | 37 | 38 | 39 | 42 | 49 |
| 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 (%) | 72.00 | 71.00 | 75.30 | 72.30 | 66.20 |
| Retail payment systems | |||||
| BACS | |||||
| Total gross volume | 5,841 | 6,080 | 6,219 | 6,347 | 6,444 |
| Breakdown of 'total gross volume' by instrument type | |||||
| Credit transfers | 2,169 | 2,172 | 2,147 | 2,121 | 2,088 |
| Direct debits | 3,672 | 3,908 | 4,072 | 4,227 | 4,356 |
| 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 | 518 | 445 | 378 | 310 | 276 |
| Breakdown of 'total gross volume' by instrument type | |||||
| Credit transfers | 41 | 28 | 22 | 17 | 14 |
| Direct debits | 0 | 0 | 0 | 0 | 0 |
| Cheques | 477 | 416 | 356 | 293 | 262 |
| 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 | nav | nav | 3,171 | 3,105 | 2,917 |
| Breakdown of 'total gross volume' by instrument type | |||||
| Credit transfers | nav | nav | 3,171 | 3,105 | 2,917 |
| Direct debits | nav | nav | 0 | 0 | 0 |
| Cheques | nav | nav | 0 | 0 | 0 |
| Card and e-money payments | nav | nav | 0 | 0 | 0 |
| Other payment instruments | nav | nav | 0 | 0 | 0 |
| Number of netting cycles | nav | nav | 1 | 1 | 1 |
| Fast payment systems | |||||
| Faster Payments Service | |||||
| Total gross volume | 1,101 | 1,247 | 1,426 | 1,656 | 2,043 |
| Breakdown of 'total gross volume' by instrument type | |||||
| Credit transfers | 1,101 | 1,247 | 1,426 | 1,656 | 2,043 |
| 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 |