Bottomline Powers Faster Payments for Vive via its Real Time Express Service

Bottomline Powers Faster Payments for Vive via its Real Time Express Service
25.09.2019 09:12 am

Bottomline Powers Faster Payments for Vive via its Real Time Express Service

Payments

Bottomline Technologies, a leading provider of financial technology that helps make business payments simple, smart and secure, today announced that new financial services entrant, Vive, is set to deliver real-time payments to its future customers on day one of trading.

Vive, which is well-advanced in the bank authorisation process, has taken advantage of the easy to connect, real-time payment offering from Bottomline.  The new SAAS- based solution was launched in July in partnership with Starling Bank, and uses API-led technology, alongside Starling’s banking licence, to create a 24x7 direct connection to the Faster Payments Scheme (FPS).

“As a new player in financial services, we understand that outstanding customer service is key to our success,” said Nick Anthony, CEO at Vive. “When it comes to payments, it means we have to deliver a fast, secure, and trouble-free experience that customers have come to expect.”

Bottomline’s award-winning technology and Starling Bank’s existing connection to FPS enables industry newcomers like Vive to enjoy many benefits. The cost and complexity of direct access projects, the ongoing overhead of managing the Scheme and the challenging development and service inertia in the agency banking models are all avoided.  This new service means that 24/7 instant payments, across different rails, will be included in Vive’s customer proposition from day one, and will deliver a highly competitive service to the market.

“Together we have built a comprehensive solution, covering Faster Payments, Direct Debits and card payments,” said Anthony. “It’s allowed for seamless integration with our platform, giving us complete control of our cash flow in real-time.”

Bottomline’s Universal Aggregator model offers three different access solutions to the Faster Payments Scheme – Direct, Directly Connected Non-Settling Participant (DCNSP) and Indirect. 

"As payments continue to evolve, our experience and investment in innovation allow us to offer clients flexible payment solutions and market leading capabilities." said Rob Eberle, CEO and President of Bottomline. "With our open architecture and through collaborative partnerships such as the one with Starling Bank, we can deliver winning solutions to forward thinking organizations like Vive.”

“We have been continually impressed with the level of support and technical expertise provided throughout implementation, and we look forward to a long and productive partnership with Bottomline,” said Anthony.

Planning to launch in 2020, Vive will serve customers who currently find it difficult to access affordable credit. 

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