Faster Payments Service Goes Live on VocaLink Real-Time Platform

LONDON, May 27 /PRNewswire/ --     VocaLink, the payment transaction specialist, announced today that the
Faster Payments service has gone live with the first transactions processed
successfully this morning. The ground-breaking Faster Payments service is the
first application of the VocaLink Real-Time Payments Platform and is
generating significant interest from major banks around the world.

The VocaLink Real-Time Payments Platform is unique in facilitating single
real-time payments over a variety of channels including mobile, internet,
telephone and even payment card. This will enable payments from consumer to
consumer, consumer to business, business to consumer and business to
business. It is likely to change both the way that people pay and the way
they want to be paid.

Martin Wilson, chief commercial officer at VocaLink said: ''The VocaLink
Real-Time Payments Platform is one of the most revolutionary infrastructures
the payments industry has seen in recent decades and has the potential to
transform consumer banking behaviour and business practice across the
globe.''

VocaLink is already in discussion with banks from around the world which
are looking to reduce the cost of their payments infrastructure while
simultaneously future-proofing it to cope with increasing demand for more
real-time, spontaneous and mobile payment services.

In the UK, Faster Payments was developed in response to the Office of
Fair Trading (OFT) calling for an alternative to the existing systems. It has
been a joint project between VocaLink, as the infrastructure provider, APACS,
as the industry body overseeing the development, and the UK banks. The
financial institutions involved in delivering the system account for 97% of
all payments made. Faster Payments will run alongside existing payment
schemes such as Bacs and CHAPS.

''The new service far exceeds the original requirements of the OFT's
Payment Systems Task Force.'' adds Wilson. ''This is a payment service that
maximises straight through processing and is truly self service, reducing
operational cost and improving customer service.''

VocaLink designed, built and operates two other national payment
infrastructures in the UK for the Bacs Scheme (Direct Debit, Bacs Direct
Credit and Standing Order), and the ATM network for the LINK scheme. VocaLink
also operates a Euro clearing service that processes euro payments to and
from anywhere in the world and has recently announced a payments processing
outsourcing deal with BGC in Sweden.

Notes to Editors

The Faster Payments service is owned by the UK member banks and the
scheme is run for them by CHAPS Co.

About VocaLink

VocaLink is a specialist provider of transaction services to banks, their
corporate customers and Government departments. It processes domestic and
international automated payments and provides ATM switching solutions. On a
peak day, the VocaLink automated payment platform processes over 90 million
transactions and over half a billion in a month. Its switching platform
connects the world's busiest ATM network of over 60,000 ATMs.

Having pioneered electronic payments for over four decades, many of the
world's top banks and their corporate customers rely on VocaLink to meet
their transaction needs. Its processing services offer banks reach throughout
the Single Euro Payments Area (SEPA) and beyond; and are augmented by
value-added services that leverage industry expertise and technical
capabilities.

Please visit http://www.vocalink.com for more information

Further information

Gerald Cross, The JJ Group
+44-(0)1865-343100 or vocalink@thejjgroup.com

Kevin Monks, VocaLink
+44-(0)870-920-8574 or kevin.monks@vocalink.com

Deborah Souter, VocaLink
+44-(0)870-920-8651 or deborah.souter@vocalink.com