24/11/2011

By Scott Thompson

VocaLink is teaming up with Clear2Pay to facilitate the move to global Immediate Payments. The partnership means financial institutions can integrate their systems with the Immediate Payments solution and realise and pass on the benefits to their corporate and consumer customers. It is envisaged that this will facilitate the global adoption of new payment channels, such as p2p payments via the mobile.

Marc Terry, managing director, global transaction dervices at VocaLink, says: “The drive towards immediacy in payments is becoming increasingly important as consumers want to make payments from anywhere, at anytime. At VocaLink we understand the need for an integrated end-to-end payments system and are extremely pleased to be working with Clear2Pay to accelerate the move towards global immediate payments.”

Mark Hartley, chief marketing officer at Clear2Pay, comments: “Central banks and governments around the world see benefits in Immediate Payment schemes in the sense of reduced settlement risk a richer consumer proposition and equally important, a higher velocity of money within the economy. As such the market urgently calls for new and secure schemes without having to reinvent the wheel. This co-operation between Vocalink and Clear2Pay’s technology offers just that to the market today.”