Bacstel-IP

Bacstel-IP caters for electronic payments and electronic direct debit files in the U.K. market. Bacstel-IP is a Bacstel-IP certified solution.

Used in association with Smart Cards issued by sponsoring banks, Bacstel-IP validates user credentials, signs transmission files, and completes transmission through direct dial-up or over the Internet.

Bacstel-IP allows a user to import a credit or debit file from anywhere on your PC or network. Bacstel-IP can import a file from any ERP system, application or data source. Files can be vendor payment files, payroll files or customer direct debit files. Bacstel-IP can also be configured to be automatically populated by payment or debit files as soon as they are created by the originating application.

Bacstel-IP can be configured to take files from multiple sources across different applications, business units or environments.

Features

Benefits

• Electronic payment savings are estimated in the U.K. at approximately £1 per transaction compared to check or paper-based methods, according to VOCA-BACS.
• Savings can also be generated by availing of IBAN codes for Euro payments, with transfers between Euro accounts within the U.K.
• Cross-platform solution eliminates need for multiple tools across different applications
• Processing BACS payments or direct debits from your data in-house removes requirement for outsourced bureau service
• Secure electronic payments platform improves financial control and reduces exposure to cheque-based fraud