November 23, 2011

International payments provider VocaLink and payments tech company Clear2Pay announced that they are partnering to provide an end-to-end solution that supports real-time payment processing from the central switch thorough to a bank's back office.

The companies said the partnership will enable banks to provide their customers with an end-to-end, inter-bank, real-time payments service, with the inclusion of multi-channel service options such as mobile.

The new offering means financial institutions can integrate their systems with VocaLink's Immediate Payments retail payments processing solution and offer Immediate Payments to their corporate and consumer customers. This will facilitate the global adoption of new payment channels, such as p2p payments via the mobile channel, VocaLink said, which can reduce settlement risk, and keep money flowing within the economy.

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as ...