Cámara de Compensación Electrónica (CCE), the automated clearing house of Peru, has selected Mastercard company Vocalink to upgrade the nation’s electronic payments system.

Supported by the tie-up, Peru will get a new integrated service for electronic payments processing round-the-clock.

The revamp includes the implementation of Vocalink’s new Immediate Payments Solution (IPS). The solution has been designed to process real-time transfers.

Vocalink will also allow users to make mobile payments using only a phone number.

CCE CEO Cesar Ferreyros said: “Peru’s whole economy will significantly benefit from the introduction of a new payments platform, as it impacts all stakeholders from consumers, small businesses through to the government and financial institutions. Benefits will include more efficient payment of salaries, insurance payouts, loans, small business invoicing and person-to-person payments.

“In addition, competition within the financial services industry will be stimulated, as well as greater productivity of money, with a higher volume of transactions processed within the same elapsed timeframe.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Vocalink already powers RTP, The Clearing House’s real-time payment system in the US, and the UK Faster Payments Service.

Vocalink CEO Paul Stoddart said: “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.”