VocaLink opens gateway to real-time interbank mobile payments
VocaLink, the international payments partner, today announced the launch of its new multi-channel gateway product that enables banks to offer customers true real-time, inter-bank mobile payment services.
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The multi-channel gateway has been designed to work in conjunction with the VocaLink Immediate Payment solution, but can operate equally well with other payment services, such as the UK's Faster Payments Service and the LINK network.
Central to VocaLink's multi-channel gateway is a proxy database that has a look-up capability to associate a proxy such as a mobile phone number or email address to identify customer bank details and enables the payment to be completed. The proxy database ensures that the highest level of safety and security are adhered to, protecting the privacy of the bank and customers.
Marc Terry, Managing Director, Global Transaction Services at VocaLink, said, "The VocaLink multi-channel 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."
VocaLink will be demonstrating the capabilities of the multi-channel gateway on Stand G134 at Sibos in Toronto 19-23 September 2011.