Jonathan Williams, Principle Consultant and Director of Mk2 Consulting has published analysis of Payment Statistics for the UK from January to June 2020.
There has been a lot of discussion of the economic impact of the lockdown measures on consumers and businesses. Suggestions of significant impact to GDP have been shown in other data sets but one source of data has not been investigated in much detail: the inter-bank data from the main clearing and settlement systems.
Inter-bank payments in the UK are the life blood of UK commerce. These include supplier payments, salaries, bill payments including credit cards, house purchases and company acquisitions, card settlements to merchants, person-to-person transfers and mortgages and insurance.
In the first of a series of articles looking at these statistics I consider what is apparent from the set of interbank payments volumes which are published card-based and e-money transfer statistics are less available. Further articles will focus on specific clearing systems, such as Bacs and Faster Payments.
Jonathan Williams, Principle Consultant and Director of Mk2 Consulting
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