BACSTEL-IP service.

BACS Limited, a UK's automated clearing house, have announced the operational start-up of BACSTEL-IP, the new internet-based payment service which connects customers to the BACS system. The new service will be gradually rolled out across the payments industry and in time will become widely available throughout the UK. BACSTEL-IP represents the first stage of the NewBACS technology renewal programme, launched by BACS to meet the rapidly growing demand for efficient electronic payment services such as Direct Debit and Direct Credit.

UK businesses will be able,to save time by downloading report data electronically and importing it straight into back office systems to increase efficiency with faster payment confirmation Businesses currently interact with BACS through a variety of channels but this process has been consolidated so that all future interaction is via one channel--BACSTEL-IP.

The new IP channel employs advanced security measures Public Key Infrastructure (PKI) and cryptographic processes have been utilised within the new technology. The move to Internet protocol allows BACS to use the latest proven security, particularly in the areas of user identity verification, data integrity and increased privacy measures.

www.bacs.co.uk