Direct corporate access
Encyclopedia
Direct Corporate Access is part of the Faster Payments Service
which provides a same day clearing payment service to UK member banks. Direct Corporate Access (DCA) will provide Banks' business customers with direct access to the Faster Payments Service
(FPS) clearing service in a very similar way that Bacstel-IP provides access to BACS
.
Direct Corporate Access only enables submission of files of payments, however as the central FPS processes payments indi vidually, VocaLink the operators of DCA will split the files into individual instructions for processing through FPS.
It was developed by APACS
on behalf of the FPS member banks and the infrastructure went live in March 2009. Barclays was the first Bank live for customer sponsorship in August 2009.
Albany Software
was the first solution supplier to successfully process a payment through the Faster Payments Service via DCA, using Albany ePAY on Wednesday 22 July 2009.
. 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 .
The Bureau needs to be sponsored by a DCA enabled Bank (initially only Barclays) and to use a Bureau/DCA version of the approved Bacs Approved Software Service (BASS) software.
The Bureau's sponsor bank issues PKI
certificates for authorising files in the form of a smart card
or Hardware Security Module
(HSM). The same PKI certificates can be used to authorise Bacs
file submissions via Bacstel-IP.
File submissions can only be made on behalf Service Users of a DCA enabled Bank (initially only Barclays).
Faster Payments Service
Faster Payments Service is a UK banking initiative to reduce payment times between different banks' customer accounts from three working days using the long-established BACS system, to near real time...
which provides a same day clearing payment service to UK member banks. Direct Corporate Access (DCA) will provide Banks' business customers with direct access to the Faster Payments Service
Faster Payments Service
Faster Payments Service is a UK banking initiative to reduce payment times between different banks' customer accounts from three working days using the long-established BACS system, to near real time...
(FPS) clearing service in a very similar way that Bacstel-IP provides access to BACS
BACS
Bacs Payment Schemes Limited is a United Kingdom scheme for the electronic processing of financial transactions. BACS direct debits and BACS direct credits are made using the BACS system...
.
Direct Corporate Access only enables submission of files of payments, however as the central FPS processes payments indi vidually, VocaLink the operators of DCA will split the files into individual instructions for processing through FPS.
It was developed by APACS
APACS
The UK Payments Administration Ltd is a United Kingdom trade organisation that brings together all payment systems organisations and gives banks, building societies and card issuers a forum where they can work together on non-competitive issues...
on behalf of the FPS member banks and the infrastructure went live in March 2009. Barclays was the first Bank live for customer sponsorship in August 2009.
Albany Software
Albany Software
Albany Software is a software developer, and Bacs approved software supplier, offering payment and document delivery services for businesses. The company is located at Albany House in Hampshire, UK.-History:...
was the first solution supplier to successfully process a payment through the Faster Payments Service via DCA, using Albany ePAY on Wednesday 22 July 2009.
Key Features
- DCA is available for file submission 7 days a week 24 hours a day (from September 2011).
- Sterling payments only
- Maximum individual payment value is £100,000
- Payments submitted in files via the Secure-IP channel
- Beneficiaries must use FPS addressable sort code
- DCA users must be sponsored by their bankers (however only Barclays offering sponsorship in the first instance).
Secure-IP
Secure-IP is a clone of the existing Bacstel-IP channel used for BACSBACS
Bacs Payment Schemes Limited is a United Kingdom scheme for the electronic processing of financial transactions. BACS direct debits and BACS direct credits are made using the BACS system...
. Files of payments are secured using a smart card
Smart card
A smart card, chip card, or integrated circuit card , is any pocket-sized card with embedded integrated circuits. A smart card or microprocessor cards contain volatile memory and microprocessor components. The card is made of plastic, generally polyvinyl chloride, but sometimes acrylonitrile...
or Hardware Security Module
Hardware Security Module
A hardware security module is a type of secure cryptoprocessor targeted at managing digital keys, accelerating cryptoprocesses in terms of digital signings/second and for providing strong authentication to access critical keys for server applications...
(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
Experian
Experian plc, formerly known as CCN Systems, is a global credit information group with operations in 36 countries. The company employs 15,500 people with corporate headquarters in Dublin, Ireland and operational headquarters in Nottingham, England and Costa Mesa, California, US...
. In 2011 they were joined by Fundtech .
Bureaux
Bureau organisations can submit files of payments on behalf of other registered Service Users of Direct Corporate Access.The Bureau needs to be sponsored by a DCA enabled Bank (initially only Barclays) and to use a Bureau/DCA version of the approved Bacs Approved Software Service (BASS) software.
The Bureau's sponsor bank issues PKI
Public key infrastructure
Public Key Infrastructure is a set of hardware, software, people, policies, and procedures needed to create, manage, distribute, use, store, and revoke digital certificates. In cryptography, a PKI is an arrangement that binds public keys with respective user identities by means of a certificate...
certificates for authorising files in the form of a smart card
Smart card
A smart card, chip card, or integrated circuit card , is any pocket-sized card with embedded integrated circuits. A smart card or microprocessor cards contain volatile memory and microprocessor components. The card is made of plastic, generally polyvinyl chloride, but sometimes acrylonitrile...
or Hardware Security Module
Hardware Security Module
A hardware security module is a type of secure cryptoprocessor targeted at managing digital keys, accelerating cryptoprocesses in terms of digital signings/second and for providing strong authentication to access critical keys for server applications...
(HSM). The same PKI certificates can be used to authorise Bacs
BACS
Bacs Payment Schemes Limited is a United Kingdom scheme for the electronic processing of financial transactions. BACS direct debits and BACS direct credits are made using the BACS system...
file submissions via Bacstel-IP.
File submissions can only be made on behalf Service Users of a DCA enabled Bank (initially only Barclays).
Alternative Products
- Royal Bank of Scotland (including National Westminster and Coutts Banks) and HSBC offer Faster Payments via their electronic banking channels (Bankline and HSBC.Net).