BACS
Company Information
About
The BACS Company
In
an increasingly competitive business climate, where technology is
one of the main driving forces of change, efficient and secure payment
processes are critical factors in success.
For
over 30 years, BACS has been at the heart of the payments industry,
providing world leading electronic payment services that deliver
greater efficiency and economy to banks and businesses - and increased
convenience and 'peace of mind' to tens of millions of consumers.
Today,
BACS is one of the world's leading and most successful organisations
providing electronic funds transfer. Owned by the major UK clearing
banks and building societies, BACS processes on behalf of BACS Payment
Schemes Ltd.
BACS has revolutionised the automated payments industry, and now
enables around 50,000 UK businesses of all types, including all
of the FTSE 100, to realise the benefits of automated payments.
This all adds up to a unique service delivering efficient, reliable,
secure and customer focused services to organisations.
Currently
BACS processes over 4 billion financial transactions a year and
handles over 60 million payments on a peak day. These include Direct
Debits, Direct Credits, Standing Orders and other inter-bank payments.
The
success of BACS is based on its ability to exploit technology for
the benefit of banks, businesses and consumers. BACS' flexible and
proven telecommunications systems enable businesses to process their
payments through a conventional telephone line or ISDN line.
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