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14th December 2018
Vocalink to modernise Peruvian electronic payments infrastructure
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 a new integrated and comprehensive payment service that will deliver processing of electronic payments 24/7, 365 days of the year.
The announcement marks a major development for Peru’s payment infrastructure. The migration will support an upgrade to the existing system to support the clearing and settlement of electronic payment methods.
In addition, this will include an implementation of Vocalink’s Immediate Payments Solution (IPS) which 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.
Adrián F. Revilla Vergara, Chairman of the Boardof Cámara de Compensación Electrónica, said: “Once complete, I believe that the platform will not only be one of the most comprehensive real-time payment systems in Latin America but it will be in-line with the best in the world.
"Our aim is to provide a solution from which innovative new services can be launched to power Peru’s economy, and it is our belief that Vocalink and their proven experience in the design, development and delivery of real-time national payments infrastructure, makes them the ideal partner.”
Paul Stoddart, Chief Executive Officer at Vocalink, said: “We look forward to working with such a respected and impressive partner as Cámara de Compensación Electrónica, to deliver a service that will transform the payments landscape in Peru. The new real-time solution will provide a platform for innovation to support the country’s economy.
“The partnership is Vocalink’s first fully managed service in Latin America, which will ensure that we continue to provide our payments expertise long after we have implemented the new infrastructure. We are committed to developing further partnerships around the world to build global, ubiquitous real-time payments.”