More NewsBT Deploys EigerPAY Gateway Technology in Move to BACSTEL-IP

BT Deploys EigerPAY Gateway Technology in Move to BACSTEL-IP

British Telecommunications (BT), one of the world’s leading providers of telecommunications services, is implementing EigerPAY Gateway from Eiger Systems, Europe’s leading developer of validation and payment solutions for automated banking and e-commerce. The move will provide BT with access to BACSTEL-IP, the new payment submission platform that replaces the existing BACSTEL service on 31 December 2005. BACSTEL-IP delivers faster payments, higher security and offers real-time online reporting. All organisations that submit direct debits and direct credits to BACS must migrate to BACSTEL-IP by the end of 2005. The transition to BACSTEL-IP has enabled BT to re-assess its overall requirement for electronic payment collection and in turn adopt a single solution for submitting BACS payments, consolidating the 10 systems that had been in use historically. Richard Gous, the BACSTEL-IP project sponsor from BT group treasury, commented: “We process around 8,000,000 direct debits each month and on our busiest day alone submit up to 2,500,000 transactions. Because of this, it was imperative that any software supplier we chose would be physically capable of handling such high volumes.”

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

3w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

5m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

5m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha