Vocalink has partnered with e-commerce
payments processor First Data and consultancy Accenture to
introduce in Australia the technology for a real-time payments
system.
The Immediate Payments software solution will
enable users to transfer funds between bank accounts in real time
instead of one-to-three days, along the lines of UK’s Faster
Payments, launched by VocaLink in 2008.
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“Today’s mobile, digital consumer is
increasingly likely to require services – including payments – to
be delivered reliably, securely and instantly, 24-hours-a-day,
365-days-a-year,” said VocaLink chief executive officer David
Yates.
The partnership attempts to seize the
opportunity offered by the Reserve Bank of Australia’s decision to
review the country’s payments system and enable real-time retail
payments by 2016.
VocaLink seeks to expand worldwide through
local partnerships and said it will continue to focus its attention
in the Asia-Pacific region.
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