Voca unveiled Monday the release of its Voca Payments Switch software, which will allow banks to connect to the Faster Payments scheme set for release next year.
Voca’s Faster Payments requires banks to perform same-day clearing of Internet and telephone banking credits by November 2007.
The Payments Switch integrates directly into banks’ existing payments infrastructures, allowing them to meet the Faster Payments deadline while reducing the overhead of managing the new service.