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What is Bacstel-IP?

Bacstel-IP caters for electronic payments and electronic direct debit files in the U.K. market. CASHBOOK-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

  • Adheres to the strict security guidelines laid down by VOCA-BACS and ensures that allusers have the correct privileges for signing and transmitting files.
  • User identities validated via individual Smart Cards and PIN numbers issued to users bytheir company’s sponsoring bank.
  • Validates all payment data against the Industry Sort Code Directory (ISCD), updated regularly by BACS.
  • Identifies any errors or data inconsistencies within credit or debit file.
  • Contains auto-cleaning functionality to remove problems from files before transmission to
  • Transmits files to BACS and receives BACS reports directly into Bacstel-IP.

Benefits

  • Electronic payment savings are estimated in the U.K. at approximately £1 per transaction compared to cheque or paper-based methods, according to VOCA-BACS.
  • 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.
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