26 June 2017
Vocalink’s PayPort receives triple accreditation
Vocalink today announces that PayPort, a managed service that provides access to Faster Payments, has received gateway accreditation from Faster Payments Scheme Limited (FPSL) for Direct Participants, Direct Agencies and Sponsors, driving democratisation of faster payments across all PSPs.
The accreditation by FSPL, marks the official recognition as a technical solution that helps payment and financial institutions gain access to real-time Faster Payments through the New Access Model. The model was introduced by the Faster Payments Scheme with the aim of increasing competition in the financial services sector.
Paul Stoddart - CEO at Vocalink said: “Many of our customers, including challenger banks and new payment service providers, require access to Faster Payments but face additional technology investment and increased time to market if they were to establish an in-house solution.
PayPort manages our customer’s interactions with the Faster Payments Scheme’s central infrastructure, providing them with a cost efficient, reliable service, which in turn will open up access to payment systems even further, benefitting both intermediaries and consumers.”