Sterling payments

VocaLink provides the processing power behind 80 million payments a day in the UK. These are made up of direct debits, direct credits and standing orders that currently pass through the three-day clearing system. VocaLink has developed the Immediate Payments platform which will enable UK bank customers to transfer funds in near real time, clearing within seconds.

Banks exchange more than payment messages using our infrastructure. The VocaLink payment platform provides services for the exchange of supporting information. It handles the messages that are exchanged when payment instructions are set up, changed or corrected or when a customer moves banks and wants regular payments to move with them. Recognising that efficiency depends on accuracy, we provide information management services to help businesses and banks get the most up to date and accurate information they can. These services help banks to create payments that are right first time.