Accuity’s Global Payment Database Leverages the UK Faster Payments Initiative

Accuity has announced an enhancement to its financial institution data and routing information database, Global Payment File-Plus (GPF-Plus), enabling users to further expedite their payment processes for UK-originating transactions. The database now indicates the sort codes that participate in the Faster Payments Service (FPS) with notifications residing in the Routing Attributes File. Leveraging such information, the company says that GPF-Plus can be used to further streamline payment processing. FPS enables banking customers to use the Internet or phone to make an electronic payment and runs alongside existing payments in schemes such as BACS and CHAPS.