TITLE

Untitled

PUB. DATE
August 2007
SOURCE
Computer Weekly;8/28/2007, p73
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article presents information on the Faster Payments System for the British banking industry, which will be launched in May 2008. It is stated that the system, which will enable customers to make payments quickly over the Internet or telephone, was announced on May 2005. According to British payments association Apacs, the system has been devised by 13 banks, and is being delivered by VocaLink LLC. According to Apacs, the work involves massive investment in terms of both time and money to create a new central infrastructure, and to upgrade banks' systems for delivering faster payments for online, telephone and standing order transactions.
ACCESSION #
26775893

 

Related Articles

  • Fast development for Faster Payments. Flinders, Karl // Computer Weekly;12/16/2008, p6 

    The article focuses on the creation of IT infrastructure which supports the Faster Payments system of Great Britain. It was created in 18 months, by a team of planners facing a non-negotiable deadline and no room for compromise. Apacs and British banks decided to create a service which could...

  • Zip Code Banking.  // Time;10/25/1968, Vol. 92 Issue 17, p108 

    The article focuses on the Giro account which is a new automated banking system that was introduced by the General Post Office (GPO) of Great Britain. It states that Giro will allow customers to transfer their funds without the use of cash or checks. It says that Giro will circulate the funds...

  • VocaLink uses audit tools to rationalise its networks. Flinders, Karl // Computer Weekly;12/11/2007, p6 

    The article reports that VocaLink LLC, which was created from the merger of two payment processing companies in Great Britain has installed software to help it rationalise its separate transaction processing networks. The automated clearing house runs two networks, one focused on online...

  • P2P Transfers Become a Bank Reality.  // Bank Technology News;Aug2009, Vol. 22 Issue 8, p1 

    The article reports on the launch of a Person-to-Person (P-to-P) payment service for banks by CashEdge Inc., a provider of account-to-account transfer services, in 2009 in the U.S. The company plans to provide POPmoney services to existing customers and is testing an earlier version of POPmoney...

  • Getting Tough on Opt-Ins: Cutting Off the Paper. Fest, Glen // Bank Technology News;Sep2006, Vol. 19 Issue 9, p16 

    The article reports on the apprehension of financial institutions to introduce electronic statements policy to consumers in the U.S. In 2005, the use of electronic account statement has enrolled 39% of the online bankers, however, only 8% of them accepted paperless transactions. The proposal is...

  • Lessons from the U.K.'s Colossal Payments Overhaul. Reutzel, Bailey // Americanbanker.com;4/01/2015, p1 

    It took a decade and a government mandate for the U.K. banking industry to develop a set of rails to transfer funds from one bank account to another in seconds.

  • LEAVE YOUR WALLET AT HOME. Dawson, Robert // Hospitality Upgrade;Fall2011, p50 

    The article focuses on the use of smartphones as a payment system device. It refers the development of an integrated near-field communication (NFC) chipset, a short-range wireless technology for contactless data exchange between two devices. It notes that such technology allows banks or business...

  • NYCE Plans Test for E-Payment System. Wolfe, Daniel // American Banker;11/19/2008, Vol. 173 Issue 224, p5 

    The author reports on an e-commerce payment system that is going to be tested by NYCE Payments Network LLC. Services that this system will provide customers are mentioned, including the ability to make debit card transactions online. Comments by Steve Rathgaber, the chief operating officer at...

  • Next Step in Bill Payment: Bankers Mull Card Option. Wolfe, Daniel // American Banker;6/24/2008, Vol. 173 Issue 121, p13 

    The author reports on the possibility of banks incorporating credit and debit cards into their online bill payment systems. Reasons why credit and debit cards are being incorporated into online payment systems are mentioned, including requests from customers. A service being developed by Synovus...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics