Vocalink and CCE Sign Peruvian Payments Deal
Vocalink, a Mastercard company, has signed a contract with Peru’s automated clearing house, Cámara de Compensación Electrónica (CCE) to fully modernise the Peruvian electronic payments infrastructure. This deal will see the creation of an integrated payment service that will deliver processing of electronic payments (cheques, bulk and real-time) 24/7 x 365 days of the year.
The migration will support an upgrade to the existing system to support the clearing and settlement of electronic payment methods, including cheques. In addition, this will include an implementation of Vocalink’s Immediate Payments Solution (IPS) that will process and credit transfers in real-time, as well as enabling users to send and receive payments from their mobile phones using just a phone number, without the need to supply the recipients’ bank details.
The updated electronic payment platform will set the bar for the payments sector in Latin America, providing businesses, the government, financial institutions, and consumers with the opportunity to choose the way in which they pay and get paid. The platform should also drive greater efficiencies across the economy, enhanced availability and security for its users and enable further innovation between payment systems.