Vocalink has won a contract with Peru's automated clearing house, Cámara de Compensación Electrónica (CCE) to overhaul the nation's payments plumbing,
The deal will see the creation of a national architecture that will deliver real-time processing of all electronic payments.
As part of the upgrade, Vocalink will implement its Immediate Payments Solution (IPS) which will process credit transfers in real-time, as well as enabling users to send and receive payments from their mobile phones using just a phone number.
Adrián F. Revilla Vergara, CCE chairman, says: “Once complete, I believe that the platform will not only be one of the most comprehensive real-time payment systems in Latin America but it will be in-line with the best in the world. Our aim is to provide a solution from which innovative new services can be launched to power Peru’s economy, and it is our belief that Vocalink and their proven experience in the design, development and delivery of real-time national payments infrastructure, makes them the ideal partner.
Vocalink’s track record of national payment systems includes the implementation of Faster Payments in the UK and the launch of The Clearing House’s RTP in the US as well as real-time mobile transfer systems in Singapore and Thailand.
Vocalink chief Paul Stoddart, states: “The partnership is Vocalink’s first fully managed service in Latin America, which will ensure that we continue to provide our payments expertise long after we have implemented the new infrastructure. We are committed to developing further partnerships around the world to build global, ubiquitous real-time payments.”