Real-time payment platform

The VocaLink real-time payment platform brings together the best of real-time transaction switching and automated payment processing. Designed for high volume parallel processing and continuous availability, it employs active-active processing: splitting incoming payments across two live sites to process up to 1000 transactions per second with the capacity to scale up easily as demand grows. The network is secured through a powerful combination of private network and application layer security, involving Public Key Infrastructure.

The Java-based settlement engine calculates settlement totals in real-time giving member banks a real-time window on their settlement risk position. Unique to real-time transaction switching, the platform enables banks to input single payments initiated on demand and files of automated payments such as standing orders.

The VocaLink real-time payment platform uses a multilateral deferred net settlement system for maximum throughput and efficiency. Settlement can be performed to schedule or on an ad hoc basis as determined by the rules applied to cap the risk exposure of clearing members.

The versatile architecture has the capability to embrace higher value payments, card payments and automated payments into a single, converged platform, thereby reducing the cost of operating multiple platforms for multiple payment types within a domestic economy.