Voca and Link Work Together to Deliver Faster Automated Payments in UK
Voca, and LINK Interchange Network, the real time payments processor that powers the UK’s ATM network, have jointly been selected by APACS to supply the central infrastructure for faster payments in the UK. APACS set up an implementation group which has been developing the specification for faster payments in response to the Office of Fair Trading Payments Systems Task Force. According to the companies the new service will increase the speed of credit transfer from one account to another – providing a platform capable of delivering payment processing in near ‘real-time’, vastly reducing traditional clearing cycles of days. The new service will be delivered in 2007.