Faster Payments Managed Service
Managing direct connectivity to the UK Faster Payments
Service
In today's ever demanding world it's no surprise that customers
are increasingly choosing to do business with those companies that
can serve their needs 24 hours a day 7 days a week and 365 days a
year - none more so than those that offer the convenience and
flexibility that allows their customers to conduct banking
transactions when it suits them.
Now with our New Faster Payments Managed Service you can satisfy
this need without a substantial investment in systems or software
enabling you to benefit from:
- Easy access to a strategic platform for
profitable growth
- Instant and ongoing compliance with the Faster
Payments Scheme requirements
- Flexibility to build your own customer
propositions
- Choice to include those features that you or
your customers value the most
- Freedom to retain existing systems and
connectivity
The Faster Payments Managed Service is an outsourced offering
from VocaLink that provides and manages direct connectivity to the
UK Faster Payments Service whilst providing the
following features to support your payment processing needs:
Single Payment Gateway
The Single Payment Gateway enables you or your customers to send
or receive single payment instructions in near real-time. It
manages the validation, translation and routing of these payment
instructions between your host system and the Faster Payment's
Central Infrastructure.
Stand-In
It is a FPS Scheme directive that any organisation that connects
directly to the UK Faster Payments Service is required to be able
to receive payments 24x7 - potentially a significant investment in
the resilience of your host system but not with our Stand-In
feature.
Our Stand-In feature can be used to step in and act on your
behalf if ever your host system is not available to receive
payments.
File submission
If you have a need to send a batch of payments to the UK Faster
Payments Service then our File Submission feature supports
this. The feature manages the validation, translation and
routing of your payment instructions in to the UK Faster Payments
Service.
