VocaLink has launched a new multi-channel gateway product that allows customers realtime, inter-bank mobile payment services.

The new multi-channel gateway is designed to work with VocaLink’s Immediate Payment solution, but also functions with other payment services like the Link network and Faster Payments Service.

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The launch of the service comes just a couple of weeks after VocaLink announced its decision to drop out of SEPA and instead focus on Faster Payments.

Adam Kennedy, Product Director, VocaLink Global Transaction Services told Electronic Payment that the channel is available internationally and to all banks in the UK that wish to purchase the channel.

Kennedy further added: “The channel allows for banks to communicate between each other enabling greater security.” 

The launch of the services comes just a couple of weeks after VocaLink announced its decision to drop out of SEPA and instead focus on Faster Payments.

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VocaLink’s new channel has a proxy database that looks up mobile phone numbers or email addresses to identify bank details and to complete the payment.

Marc Terry, managing director, Global Transaction Services at VocaLink said:

"The VocaLink multichannel gateway provides the final piece of the jigsaw that allows customers to initiate real time mobile payments just by supplying the beneficiary’s mobile phone number."