Experian gets approval of Bacs

Experian Payments Gateway The global information company Experian said that its payment processing product, Experian Payments Gateway, has achieved approval under the Faster Payments Approved Software Scheme, operated by Bacs.

As the first software to receive approval for unattended use with Direct Corporate Access, it will enable users to fully automate their Faster Payments and participate in the Barclays launch of DCA to Faster Payments in September.

Experian Payments Gateway, which originally was developed to enable payments originators to process Bacs payments, has been extended, tested and approved for use with Smartcards and Hardware Security Modules in both attended and unattended modes. It supports Faster Payments DCA via Secure-IP, the secure channel for corporates to initiate Faster Payments.

"Many of our large customers use automated payments systems to help increase efficiency and reduce their risk and costs. Recognising their need to automate their Faster Payments securely, we have worked closely with the Faster Payments Approved Software Scheme to ensure they are able to gain maximum benefit from the new Faster Payments Service," said James Hilliard, Senior Product Marketing Manager, Experian Payments.

"Automating payments has always been a key priority for corporates as it has multiple benefits, from cost reduction to improved risk management. But in the current economic environment, it probably is even more important than it has ever been, with working capital benefiting in particular. And of course, the deeper that payments are integrated into the end-to-end process, the greater the benefits," Gareth Lodge, Regional Research Director, TowerGroup.

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