VocaLink, an international payments specialist, announced it selected Verizon Business, a leading telecom provider, to ensure that its services comply with international payment card industry data-security standards.
Verizon Business’ professional consultants are providing a range of audit, management and implementation services to help VocaLink achieve and maintain Payment Card Industry Data Security Standard (PCI-DSS) certification.
VocaLink processes over 3.2 billion card-initiated payments every year. VocaLink is a specialist payments partner to banks, their corporate customers and government departments.
The company designs and delivers smarter domestic and international automated payments systems, and smarter ATM switching solutions. Its switching platform connects over 60,000 ATMs, the world's busiest network, while its payments platform processes over 500 million payments per month, according to the company.
The Real-time Payments Platform from VocaLink is the central infrastructure for the UK's Faster Payments Service, while the company is working with BGC, Sweden's leading payments provider, to provide outsourced processing for the majority of Sweden's domestic payments.
Recently, VocaLink announced that banking major ABN AMRO has been selected by VocaLink as the new Liquidity Bridge Bank. As per the agreement, VocaLink will deliver SEPA payments to all available destinations through its interoperability agreement with EBA Clearing.
To secure later cut-off and earlier delivery of payments to key destinations where VocaLink has bespoke arrangements, several leading European banks use VocaLink's service. These banks are allowed to compete more effectively for corporate payments business, allowing treasurers to conduct business more efficiently and improve their liquidity, according to company officials.