Regulation (EU) No 1409/2013 of the European Central Bank of 28 November 2013 on payments statistics (ECB/2013/43) (c. 1409)

ANNEX I U.K. GENERAL STRUCTURE OF PAYMENTS STATISTICS

PART 2 U.K. SPECIFIC FEATURES IN TABLES 2 TO 7

Part 2.3 U.K. Payment transactions involving non-MFIs (Table 4)

1. Payment transactions are initiated by non-MFIs to any counterparty or by PSPs if the counterparty is a non-MFI. This includes: U.K.

(a)

payment transactions which take place between two accounts held at different PSPs and which are executed with the use of an intermediary, i.e. where payments are sent to another PSP or to a payment system; and

(b)

payment transactions which take place between two accounts held at the same PSP, e.g. on-us transactions, with the transaction being settled either on the accounts of the PSP itself, or with the use of an intermediary, i.e. another PSP or a payment system.

2. Payment transactions initiated by a resident PSP and executed with a specific transaction order, i.e. with the use of a payment instrument, are included as ‘transactions per type of payment service’. U.K.

3. Fund transfers between accounts in the same name, and also between different types of accounts are included according to the payment service used. Transfers between different types of accounts include, for example, transfers from a transferable deposit to an account holding a non-transferable deposit. U.K.

4. In relation to bulk payment transactions, each individual payment transaction is counted. U.K.

5. Payment transactions denominated in foreign currency are included. Data are converted into euro using the ECB reference exchange rate or exchange rates applied for these transactions. U.K.

6. Payment transactions initiated by a resident PSP and executed without a specific transaction order, i.e. without the use of a payment service, by simple book entry on the account of a non-MFI, are not included. If they cannot be distinguished, such transactions are included as ‘transactions per type of payment service’. U.K.

Total payment transactions U.K.

7. The indicator ‘total payment transactions involving non-MFIs’ is the sum of the six mutually exclusive sub-categories: ‘credit transfers’, ‘direct debits’, ‘card payments with cards issued by resident PSPs (except cards with an e-money function only)’, ‘e-money payment transactions’, ‘cheques’ and ‘other payment services’. U.K.

Credit transfers U.K.

8. Each transaction is allocated to only one sub-category, i.e. either ‘initiated in paper-based form’ or ‘initiated electronically’. As the sub-categories are mutually exclusive, the total number of credit transfers is the sum of the sub-categories. The same principle applies to the total value of credit transfers. U.K.

9. Credit transfers reported under ‘initiated electronically’ are further split into ‘initiated in a file/batch’ and ‘initiated on a single payment basis’. As the sub-categories are mutually exclusive, the total number of credit transfers initiated electronically is the sum of the sub-categories. The same principle applies to the total value of credit transfers initiated electronically. U.K.

10. Includes credit transfers performed via ATMs with a credit transfer function. U.K.

11. Transactions involving cash at one or both ends of the payment transaction, and using a credit transfer payment service, are also included as credit transfers. U.K.

12. Credit transfers used to settle outstanding balances of transactions using cards with a credit or delayed debit function are also included. U.K.

13. Credit transfers includes all Single Euro Payments Area (SEPA) credit transfers as well as non-SEPA transactions. Non-SEPA transactions are also reported in the sub-category ‘non-SEPA’. U.K.

14. The sub-categories ‘initiated in a file or batch’ and ‘initiated on a single payment basis’ contain all SEPA and non-SEPA transactions. U.K.

15. ‘Domestic transactions sent’, ‘cross-border transactions sent’ and ‘cross-border transactions received’ contain both SEPA and non-SEPA transactions. U.K.

16. Cash payments to an account using a bank form are not included under credit transfers. U.K.

Direct debits U.K.

17. Both one-off and recurrent direct debits are included. In the case of recurrent direct debits, each individual payment is counted as one transaction. U.K.

18. Direct debits used to settle outstanding balances resulting from transactions using cards with a credit or delayed debit function are included, as these are separate payments from the cardholder to the card issuer. U.K.

19. Direct debits are further split into ‘initiated in a file/ batch’ and ‘initiated on a single payment basis’. As the sub-categories are mutually exclusive, the total number of direct debits is the sum of the sub-categories. The same principle applies to the total value of direct debits. U.K.

20. Direct debits includes all SEPA direct debits as well as non-SEPA transactions. Non-SEPA transactions are also reported in the sub-category ‘non-SEPA’. U.K.

21. The sub-categories ‘initiated in a file or batch’ and ‘initiated on a single payment basis’ contain all SEPA and non-SEPA transactions. U.K.

22. ‘Domestic transactions sent’, ‘cross-border transactions sent’ and ‘cross-border transactions received’ contain both SEPA and non-SEPA transactions. U.K.

23. Cash payments from an account using a bank form are not included under direct debits. U.K.

Card payments U.K.

24. Payment transactions with cards issued by resident PSPs are reported, regardless of the location of the brand under which the payment transaction has been made. U.K.

25. Transactions reported by payment service includes data on card transactions at virtual points of sale, e.g. over the internet or the telephone. U.K.

26. Payment transactions are performed using cards with a debit, credit or delayed debit function at a terminal or via other channels. The following breakdown of card payment transactions are reported: U.K.

(a)

‘payments with cards with a debit function’;

(b)

‘payments with cards with a delayed debit function’;

(c)

‘payments with cards with a credit function’;

(d)

‘payments with cards with a debit or delayed debit function’;

(e)

‘payments with cards with a credit or delayed debit function’.

27. The sub-categories ‘payments with cards with a debit or delayed debit function’ and ‘payments with cards with a credit or delayed debit function’ are only reported if the specific card function cannot be identified. U.K.

28. Each transaction is allocated to only one sub-category. As the sub-categories are mutually exclusive, the total number of card payments is the sum of the sub-categories. The same principle applies to the total value of card payments. U.K.

29. Payment transactions with cards are also split into ‘initiated at a physical EFTPOS’ and ‘initiated remotely’. As the sub-categories are mutually exclusive, the total number of card payments is the sum of the sub-categories. The same principle applies to the total value of card payments. U.K.

30. Card payments with cards issued by resident PSPs which only have an e-money function are not included. U.K.

E-money payment transactions U.K.

31. Each transaction is allocated to only one sub-category, i.e. ‘with cards on which e-money can be stored directly’ or ‘with e-money accounts’. As the sub-categories are mutually exclusive, the total number of e-money payment transactions is the sum of the sub-categories. The same principle applies to the total value of e-money payment transactions. U.K.

32. Transactions under ‘with e-money accounts’ are further split to provide information on those ‘accessed through a card’. U.K.

Cheques U.K.

33. Cash withdrawals with cheques are included. U.K.

34. Cash withdrawals using bank forms are not included. U.K.

35. Cheques issued but not submitted for clearing are not included. U.K.

Cross-border transactions U.K.

36. In the case of sent transactions, to avoid double-counting, cross-border transactions are counted in the country in which the transaction originates. U.K.

37. In the case of received transactions, to avoid double-counting, cross-border transactions are counted in the country in which the transaction is received. U.K.

38. The difference between ‘cross-border transactions sent’ and ‘cross-border transactions received’ shows the net inflow or outflow of transactions into or out of the reporting country. U.K.

Flow of funds U.K.

39. The direction of the flow of funds depends on the payment service and the initiation channel used: U.K.

(a)

in the case of credit transfers, e-money payments and similar transactions where the payer initiates the transaction, the sending participant is also the sender of funds, and the receiving participant the recipient of funds;

(b)

in the case of direct debits, cheques, e-money payments and similar transactions where the payee initiates the transaction, the sending participant is the recipient of funds and the receiving participant the sender of funds;

(c)

in the case of card payments, although the payee initiates the transaction, the treatment followed within this Regulation corresponds to that where the payer initiates the transaction.