BACSTEL-IP - one of the biggest PKI projects ever

The importance of securing a payment transaction is immeasurable for Voca, an automated clearing house, which processed £3 trillion transactions in 2004, alone. 1 Voca is employed by BACS Payment Schemes Limited, which provides secure transaction services to process its Direct Debit and Direct Credit payments in the UK. BACs processes over 60 million Direct Debit and Direct credit payments on a peak day. 2 Voca is also employed by BACs to manage the migration to BACSTEL-IP. BACSTEL IP is a a technology renewal programme using PKI and IP to update the payment processes for wages.