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VocaLink updates Singapore's real-time national payments system.

WORLDWIDE COMPUTER PRODUCTS NEWS-May 8, 2014-VocaLink updates Singapore's real-time national payments system


UK-based international payment systems provider VocaLink announced on Thursday that in partnership with Singapore based payments solution provider BCS Information Systems Pte Ltd (BCSIS), it has updated Singapore's national payments system with a new real-time payments platform, FAST, which is now live.

VocaLink and BCSIS designed, built and implemented the platform for the new Singapore payments system as part of an agreement with the Association of Banks in Singapore. The platform was modelled on the UK's Faster Payments Service, which enables users to quickly and securely transfer funds electronically, between accounts held at participating financial institutions.

The company added that the FAST system has the backing of 14 financial institutions in Singapore.

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Title Annotation:BCS Information Systems Pte Ltd.
Publication:Worldwide Computer Products News
Article Type:Brief article
Geographic Code:9SING
Date:May 8, 2014
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