VocaLink, an international payments provider, has teamed up with Clear2Pay and Fundtech in two separate deals to provide global Immediate Payments. Both collaborations mean that banks can provide their customers with an end-to-end, inter-bank, real-time payments service that deliver greater convenience and control.
Since VocaLink launched of the UK’s Faster Payments Service (FPS) in May 2008, the company has processed more than one billion transactions, both online and through traditional inter-bank transfers.
The new offerings mean financial institutions can integrate their systems with the immediate payments solution and pass on the benefits of immediate payments to their corporate and consumer customers. This will facilitate the global adoption of new payment channels, such as peer-to-peer (P2P) payments via the mobile.
VocaLink and Fundtech have identified the Asia-Pacific market as one of the core growth opportunity for this service.
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