VocaLink makes real-time payments platform available in Singapore

Friday 9 May 2014 13:57 CET | News

VocaLink, a UK-based international payment systems provider, has brought real-time payments to Singaporean customers via an online platform called FAST, reports.

The new platform has been modelled on the UK’s Faster Payments Service which has processed over 3 billion Faster Payments on a 5 years’ time period.

The payments system has been adopted by 14 local banks which, via FAST, enables businesses and consumers in Singapore to transfer funds between accounts held at participating financial institutions in a significant short period of time.

As part of the agreement with the Association of Banks in Singapore, VocaLink has partnered with BCS Information Systems (BCSIS), the Asian payments solution provider to deliver this service.

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Keywords: Singapore, VocaLink, real-time payments, online payments, Transfer, FAST, online platform
Categories: Payments & Commerce
Countries: World
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