August 2007
Computer Weekly;8/28/2007, p73
Trade Publication
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.


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