Upgrade to BACSTEL-IP
The PCF Guide to BACSTEL-IP (NewBACS)
What is BACSTEL-IP?
BACSTEL-IP is a new delivery channel for NewBACS which will replace the existing BACSTEL service. It will provide BACSTEL customers with secure, and direct online telecommunications access to BACSTEL-IP. BACSTEL-IP uses proven Internet Protocols to ensure maximum security, efficiency, cost-effectiveness and reliability. BACSTEL-IP will employ Public Key Infrastructure (PKI) technologies with Digital Signatures thus ensuring the maximum security of all payment transactions.
Why is it Being Introduced?
Launched in March 2003, the BACSTEL-IP programme has been integrated by the UK payment industry and is now available to businesses through services such as BACSactive-IP. Businesses will have until December 2005 to make the transition to BACSTEL-IP, by which time the existing BACSTEL service will be switched off. Therefore now is certainly the time for businesses to begin planning their upgrade strategy.
What's new about NewBACS?
There are many features of the BACSTEL-IP system, which differentiate it from the existing BACSTEL service. We have broken these features down into four key elements, namely Certified Quality of Service Providers, Consolidated IP Platform, Improved Faster Reporting and State of the Art Security. It is these four elements that will ensure the successful implementation of NewBACS and offer a powerful electronic payment processing service for all organisations.
- Certified Quality of Service Providers
With NewBACS, BACS aims to introduce a technology that offers a premium quality service to all organisations. To achieve this, they have introduced a software approval service for commercial software developers. This means that any supplier who wishes to develop BACSTEL-IP software must achieve the highest security and service standards and pass rigorous testing from BACS to become an approved supplier.
- Consolidated IP Platform
Unlike the old BACSTEL system, which uses two different technologies to allow users to make submissions and to receive reports, BACSTEL-IP provides one single platform for the delivery of all BACS services. It uses Internet Protocols (IP) as the communication method, which allows users to exchange information with BACS in a secure, efficient and reliable way. BACS has migrated its multiple proprietary systems to a single IP platform, as this proven protocol is fast becoming the standard for data networking between companies worldwide.
- Improved, Faster Reporting
BACSTEL-IP gives users online access to a wider range of key reports that are now available within four hours of processing, rather than next day:
- Online Reports - Authorised users can view online reports from any location. For example, BACSactive-IP users can have easy access to input reports, returned payment advices and payment message advices amongst others. Personalised access provides users with more control as they can view the progress of a file at any time and also update their user details in real-time.
- Eliminate Paper - With BACSTEL-IP all reports will be available electronically, thus eliminating the need for paper reports. The benefits of a paperless payment system will help organisations to reduce errors, lower costs and increase productivity by eliminating time consuming, manual tasks.
- Flexible File Format - All reports will be available to view using a Web-browser and are also available in XML (Extensible Mark-up Language) format so that they can be saved, downloaded and imported into an application, such as an accounting package, for processing.
- State of the Art Security
Recent advances in Internet technology have lead to the development of more efficient, cost-effective and scalable secure solutions. As a result, BACSTEL-IP now offers state of the art security through a combination of Internet protocols and PKI (Public Key Infrastructure) with Digital Signatures and Smart Card security standards.
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