BPC Processing launched Me2Me Pull service within Faster Payments System
BPC Processing has certified me2me transfers- new c2c service from Faster payments system, where the transaction is initiated by the receiver- previously transactions were initiated by the sender only.
Me2Me transfers might be crucial for those clients who used to move money between their accounts in different financial institutions. Also me2me pull transfer option will be especially in demand among customers who need to accumulate a certain amount on one account (for example, to pay for a loan or a large purchase).
According to the new requirement from FPS, banks-members of the system are to implement the service by the 1st of October.
The Faster Payments System (FPS) is a crucial infrastructural project of national importance aimed to promote competition, raise the quality of payment services, enhance financial inclusion and make payments cheaper for households.
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