OSAKA, Japan, October 29, 2012 /PRNewswire/ --
VocaLink, the international payments provider today announced a
partnership with BCSIS Pte Ltd, the Asian payments solution
provider based in Singapore, to
market, implement and support VocaLink's Immediate Payments
solution. Immediate Payments will enable banks to offer
consumers and businesses the ability to transfer funds between bank
accounts in real time and to deliver innovative products and
services based on mobile and on-line channels.
Marc Terry, Managing Director of
Commercial Services at VocaLink said "We are delighted to
announce this agreement with BCSIS. Our aim is to provide
payments solutions that enable innovation in the financial services
industry in Singapore and other
territories in the region. We strongly believe this is best
achieved through a collaborative approach, partnering with local
experts such as BCSIS who have the acknowledged skills and
capabilities and we look forward to working with them to deliver
these solutions."
Under the agreement, BCSIS will promote, implement and support
VocaLink's Immediate Payments product in conjunction with
VocaLink's payments technology expertise. VocaLink designed,
built and delivers the real-time Faster Payments Service in the UK
and has taken this unique expertise forward with its Immediate
Payments software solution, currently being deployed
internationally. With its proven experience in the provision
of clearing, payments and banking systems, BCSIS brings to the
table its expertise and ability to deliver payments solutions in
the region.
Ricky Lim, Managing Director at
BCSIS, commented "VocaLink is a pioneer in delivering
smarter international payments solutions and we are proud and
excited to be working in partnership to offer a compelling
proposition for banks and payment service providers. Bulk
payment and new electronic giro solutions will also be part of our
offering to provide a full suite of high and low value payment
systems. With our expertise in clearing and payment
solutions, we see great synergy in this partnership with VocaLink
for the creation of more innovative payment systems."
Following the announcement from the Association of Banks in
Singapore (ABS), VocaLink and
BCSIS are pleased to be working together to deliver a real-time
payments infrastructure for Singapore. Consumers and businesses will
be able to transfer funds electronically to any bank in real time
instead of the two to three business days that it now takes.
Notes to Editors
VocaLink is attending Sibos: 29 October/1
November 2012 at Intex Centre, Osaka, Japan. To find out more please
click on the link:
http://www.vocalink.com/about-vocalink/events/sibos-2012.aspx
About VocaLink
VocaLink designs, builds and operates world-class payment
systems and ATM switching platforms. We operate the UK national
payments infrastructure, a national grid for payments.
Our services touch the lives of almost everyone in the UK.
Through our systems we process over 90% of UK salaries, more than
70% of household bills and almost all state benefits. VocaLink
technology powers the Bacs and Direct Debit schemes as well as
connecting the world's busiest network of over 65,000 ATMs through
the LINK scheme.
Our platforms have made it easier to make payments confidently,
securely and cost effectively. All interbank payments pass through
our systems and in 2011 we processed over 9.6 billion UK payments
with a value of over £4.4 trillion.
VocaLink, with its vision and proven capability, is leading the
way in payments. We provide the infrastructure for the Faster
Payments Service, which helps businesses and individuals realise
the value and benefit of real-time payments. VocaLink is at the
forefront of mobile payments, driving a new era of ultra-convenient
commerce.
About BCSIS
Established in 1988, BCSIS has enabled banks, businesses and
consumers to effect payment transactions with ease, immediacy and
efficiency with its high value and low value clearing and payment
systems. Based in Singapore, BCSIS
is the architect of the island nation's premier real time payment
infrastructure for low value transactions. This new framework
creates new opportunities for the entire ecosystem of banks,
clearing houses, businesses and consumers to interact in ways never
possible before. To date, BCSIS has developed and successfully
implemented clearing, payment and banking systems for many
satisfied customers from Bahrain,
Brazil, China, Hong Kong SAR, Indonesia, Malaysia, Singapore, Sri
Lanka, Taiwan to
Thailand. Through innovation,
BCSIS continues to shape the future through ground-breaking
clearing and payment solutions that accelerate the speed of
commerce around the world.
Disclaimer: All news releases are considered to be accurate at
the time of original publication.