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Bottomline Adds BACS-Approved Modules to WebSeries

Wednesday 7 July 2004 14:58 CET | News

Bottomline Technologies has released WebSeries bureau functionality and Hardware Security Modules (HSM). Both modules have been approved by BACS, the United Kingdoms automated payment clearing service. HSMs allow businesses to make transmissions to BACS without local smart card authorization, which is very important for high-volume payers and collectors. High-volume users of BACS include the financial services sector, utilities, and public sector organizations, which combined collect over 80 percent of the 2.4 billion direct debit payments made each year in the UK. Uniquely, Bottomlines WebSeries product has been approved to support four different HSM manufacturers: nCipher, Chrysalis, Eracom and Thales. The release and accreditation of the bureau module extends WebSeries use to commercial bureau environments. It also allows Bottomline to reach businesses that make payments indirectly to BACS through third parties. More than 60,000 companies use BACS to process payments, and will need to migrate to BACSTEL-IP by December 31, 2005. In addition, the high-volume payers and collectors who use the BACS messaging services need to transition by March 31, 2005.

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Categories: Payments & Commerce | Payments General
Countries: World
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