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Posted September 7, 2009 by Simon in News
 
 

Experian Payments Gateway approved for Faster Payments

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Experian announced today that BACS had approved it’s Payments Gateway product, the first business software for fully-automated Faster Payments.

Payments Gateway is Experian’s payment processing product, and is the first to achieve approval for unattended use with Direct Corporate Access (DCA) under the Faster Payments Approved Software Scheme, operated by Bacs. This will enable users to fully automate their Faster Payments and participate in the Barclays launch of DCA to Faster Payments in September.

Originally developed to enable payments originators to process Bacs payments, Experian Payments Gateway has been extended, tested and approved for use with Smartcards and Hardware Security Modules (HSM) in both attended and unattended modes. It supports Faster Payments DCA via Secure-IP, the secure channel for corporates to initiate Faster Payments.

James Hilliard, Senior Product Marketing Manager, Experian Payments, said,

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“Many of our large customers use automated payments systems to help increase efficiency and reduce their risk and costs. Recognising their need to automate their Faster Payments securely, we have worked closely with the Faster Payments Approved Software Scheme to ensure they are able to gain maximum benefit from the new Faster Payments Service.”

Gareth Lodge, Regional Research Director, TowerGroup, said,

“Automating payments has always been a key priority for corporates as it has multiple benefits, from cost reduction to improved risk management. But in the current economic environment, it probably is even more important than it has ever been, with working capital benefiting in particular. And of course, the deeper that payments are integrated into the end-to-end process, the greater the benefits.”

Simon