Payment Cloud Technologies and AccessPay Deliver Next Generation Gateway for Payments
London, 23rd February 2017 – Payment Cloud Technologies (PCT), the London-based FinTech business, has today announced the renewal of a long-standing partnership with cloud-based payments software-provider AccessPay for the delivery of its ‘next generation’ payments gateway.
Utilising APIs and flexible cloud-based technologies, the new gateway is set to deliver significant business efficiencies for PCT and its clients.
Allowing the rapid creation of additional accounts on a new multi-tenanted platform, the latest collaboration between the two organisations eliminates the need to build further, bespoke systems when new users join the service.
The removal of the time and resource barriers, means a friction-free model for growth has been established.
And building on the businesses’ existing solution, enables PCT to offer its clients a fully scalable platform, with real-time connectivity to the Faster Payments Direct Corporate Access, BACs, Direct Debit and BACs Credit services, for the delivery of next-generation digital bank accounts.
PCT and AccessPay had previously enabled this by delivering a ‘conditional gateway’ for Faster Payments access in 2014. The renewed partnership now enables this existing proposition to be developed into a full multi-tenanted solution, allowing new accounts to be established and connected within hours.
The new gateway will utilise APIs to maximise business efficiencies and save significant time and money for prospective financial service providers. It will feature improved exception handling, strengthened AML control and enhanced systems resilience.
Mike Peplow, Deputy CEO, Payment Cloud Technologies, said: ‘’We are witnessing several shifts in the banking industry right now that are creating an environment for challenger banks and other prospective financial service providers to push forward and compete with the traditional banks. Opening access to Faster Payments is crucial if this trend is to continue, and PCT are fully supportive of the momentum. For this reason, we were delighted to take our already-successful partnership with AccessPay to the next level and provide challenger financial institutions with quicker access to Faster Payments than ever before.’’
Anish Kapoor, CEO, AccessPay, comments: ‘’Since 2012, AccessPay has sought to drive positive, innovative, and rapid change in the financial services industry, intent on redefining modern banking practices. Working with a like-minded organisation, and with detailed expertise, PCT has accelerated that process tenfold in the past 18 months. The Faster Payments Service is a fantastic initiative, and the more providers that can be connected to that service, the better. Our ability to embed the AccessPay platform into a compelling and scalable proposition from PCT is key to delivering success for our joint clients going forward.’’