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| Transfer
to BACSTEL-IP proves successful |
15/05/06 |
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More
than 800 charities are benefiting from improved electronic banking programmes
after migrating from traditional telecoms-based payment systems to a new
internet protocol payments channel.
The new system, named BACSTEL-IP and introduced by the creators of Direct
Debit and BACS Direct Credit, is an advanced online submission channel.
It provides organisations with a faster and more secure service, and offers
the ability to track and view payment files at any time.
The new payment programme has already processed more than two billion transactions
on behalf of UK businesses, government organisations and consumers.
The Scottish Society for the Protection of Animals (SSPA) was one of the
charities to take part in the migration project completed by BACS Payment
Schemes.
Jill Anderson, fundraising manager at SSPA, said: “When we found out
from our bank that changes were afoot at BACS we took the decision to migrate
to BACSTEL-IP sooner rather than later.”
She said the charity had already been in the process of implementing paperless
direct debits for donations and was looking at further driving down the
costs of processing donations. She said the charity was keen to move to
the new system before these changes were implemented.
Commenting on the system, managing director Michael Chambers said it represented
a significant investment or BACS. “It takes processing power to the
next level and provides charities with a reliable and cost effective way
to access BACS services, now and in the future,” he said.
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