takepayments blog.

Data from HMRC revealed that over 11.5 million taxpayers submitted their self-assessment tax returns by the 31 January deadline for the 2023 to 2024 tax year, with over 31,000 people leaving it until 11-11:59pm on the day.  But understanding how to navigate this isn’t as simple as filling in a form and hoping for the best — and definitely not one to leave until the final hour.

In 2024, card payments accounted for 57% of consumer and business spending in the UK, so when your machine goes down, it's bad news.  You're not alone, though: in 2024, the CrowdStrike software update crashed millions of systems worldwide. Nine leading UK banks and building societies, including Nationwide, NatWest Group, and HSBC, racked up over 800 hours of unplanned tech and systems outages in the last two years.

Running a business means handling payments day in and day out, from paying your staff to collecting money from customers. While there are plenty of ways to move money around, one of the most trusted methods in the UK is the Bacs payment. But what is Bacs, and how does it work for businesses? 

While contactless and chip and PIN payments are super handy for speedy customer service, taking card payments over the phone is a great way to connect with more people who can’t visit your business in person. But with nearly half of UK landline users receiving suspicious phone calls imitating or ‘spoofing’ well-known businesses or government departments, it has never been more important to follow the right steps to reassure your customers that their details are safe.

Whether it's buying a coffee on the go or snagging that last-minute online deal, a complex chain of events happens behind the scenes of each card transaction to ensure every penny finds its way to where it’s meant to be. Over 11.6 million card transactions are made every day, so that’s a lot of steps that must be carried out to keep your customers happy – and your business running.