Secure-IP
Secure-IP is a clone of the existing Bacstel-IP channel used for BACS. Files of payments are secured using a smart card or Hardware Security Module (HSM).
Files of payments submitted by Secure-IP will be disaggregated by VocaLink, the operators of DCA, and submitted into the Faster Payments Service. Disaggregation and acceptance may take up to 30 minutes and beneficiaries will receive access to the funds within 2 hours of acceptance.
The software used to access Secure-IP must be approved. This is an extension to the existing Bacs Approved Software Service (BASS). In March 2009 Albany Software and Bottomline Technologies Europe Ltd received approved status for their first DCA capable products. They were joined in May 2009 by Barron McCann. In 2010 they were joined by Direct Debit Ltd and Experian. In 2011 they were joined by Fundtech.
Read more about this topic: Direct Corporate Access