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  2. Faster Payments - Wikipedia

    en.wikipedia.org/wiki/Faster_Payments

    In May 2005 the task force announced that an agreement had been reached to reduce clearing times for phone, Internet and standing order payments. [19] This committed the payments services industry to develop a system able to clear automated payments in no more than half a day – the so-called ELLE model – resulting in payment being received the same day if made sufficiently early.

  3. Instant payment - Wikipedia

    en.wikipedia.org/wiki/Instant_payment

    Instant payment (sometimes referred to as real-time payment or faster payment) is a method of electronic funds transfer, allowing for almost immediate transfer of money between bank accounts. This was in contrast to the previous transfer times of one to three business days that had been in place until the mid-2010s.

  4. Paying in Full vs. Partial Payments: Which Is Best for Your ...

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  5. Direct Corporate Access - Wikipedia

    en.wikipedia.org/wiki/Direct_corporate_access

    DCA payment was developed by APACS on behalf of the FPS member banks and the infrastructure went live in March 2009. Barclays was the first bank live for customer sponsorship in August 2009. Albany Software was the first solution supplier to successfully process a payment through the Faster Payments Service via DCA, using Albany ePAY on ...

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  8. Payments Council - Wikipedia

    en.wikipedia.org/wiki/Payments_Council

    One of the tasks of the Payments Council was to implement the Faster Payments Service, taking clearing times in the UK from among the slowest to among the fastest in the world. Criticisms made in 2009 included delays and shortcomings in delivery, and inability to ensure that Faster Payments members promptly passed on benefits to their customers ...

  9. Vocalink - Wikipedia

    en.wikipedia.org/wiki/VocaLink

    Vocalink is a payment systems company headquartered in the United Kingdom, created in 2007 from the merger between Voca and LINK. [1] It designs, builds and operates the UK payments infrastructure, which underpins the provision of the Bacs payment system and the UK ATM LINK switching platform covering 65,000 ATMs and the UK Faster Payments systems.

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