Barron McCann Technology the UK’s leading provider of Payment Processing solutions has received approval under the BACS Approved Software Scheme (BASS) for support for Secure-IP (Faster Payments).
BACSTEL-IP support for Faster Payments
Existing Barron McCann Technology customers wishing to utilise the Faster Payments Scheme will now be able to upgrade their existing BACSTEL-IP solution by adding the approved FPS profile. This easy to install, add-on module will allow organisations to manage both BACS and Faster Payments through their existing BACSTEL-IP solution
The Faster Payments Service will be rolled-out initially by Barclays Bank in June 2009 and will deliver a number of benefits including:
- Reduced costs – replace costly CHAPS payments and avoid charges for late payments.
- Increased efficiency – Faster than BACS. Submit payments on the due date reducing errors caused by tight deadlines.
- Improved Customer Service - Release customer funds faster than your competitors
- Improved Cashflow – completely eliminate cash payments.
Barron McCann’s Validate solution enhances the Faster Payment service further by validating bank account and customer information prior to submission, avoiding the costs associated with rectifying failed payments (currently estimated to be up to £35 per transaction).
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