Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

NEW PAYMENT SERVICES FRAMEWORK TO DE-SCOPE COUNCILS FROM PCI COMPLIANCE
NEW PAYMENT SERVICES FRAMEWORK TO DE-SCOPE COUNCILS FROM PCI COMPLIANCE

Published : , on

allpay Limited awarded place on new Payment Services Framework, de-scoping local authorities and wider public sector from PCI DSS compliance

UK payments specialist allpay Limited has been awarded a place on a new Payment Services Framework (PSF) led by Shropshire Council, enabling any UK local authority to offer a wide range of PCI DSS-compliant debit and credit card payment solutions while de-scoping their own compliance requirements.

The services provided via the framework – which spans several lots across cash, debit/credit card and direct debit acceptance – will be accessible to other local authorities and the wider public sector as part of a four-year agreement, reducing the estimated £20,000 cost of tendering for such services.

The Framework is being managed by card processing consultancy, the Card Processing Advisory Service (CPRAS) – whose Freedom of Information requests to local authorities last year revealed that more than 65% are not fully PCI compliant and, as a result, are paying significantly high rates with merchant acquirers because of the risk.

As a result, the rigorous procurement to appoint suppliers to the framework saw suppliers evaluated against hundreds of criteria in a competitive due diligence process lasting several months. Under the framework, local authorities and the wider public sector, including universities, Central Government and the private sector, will be able to call off allpay Limited’s services directly and offer the below payment channels to allow their customers to pay bills.

  • Post Office and PayPoint payments
  • Online, Automated Phone, Virtual Terminal (including DTMF masking), Mobile App, SMS and Chip and Pin payments
  • Direct Debits

allpay Limited already provides payment solutions to 160 local authorities and has worked with Shropshire Council since 2007, providing its citizens with access to the PayPoint and Post Office networks for the payment of council bills.

Back in February, allpay Limited retained its PCI DSS compliance, following an annual external audit, and is now a Level 1 Payments Service Provider (PSP).

Nick Peplow, bill payments director at allpay Limited, said, “The new PSF procured by Shropshire Council provides a clear route for a local authority to achieve PCI compliance while significantly reducing their costs and saving further time and resources from avoiding a costly tender exercise. With PCI DSS compliance becoming more complex and onerous for local authorities to manage, this framework provides a way for them to ensure compliance in the most cost-effective way.”

Julia Edwards, Finance Transaction Manager with Shropshire Council, added: “Of course, like every other council in the UK, we need to make financial savings wherever we can. When it comes to accepting debit and credit card payments though, the most important consideration is that we have the most secure and robust system possible. We are delighted that, with CPRAS managing this Framework, we can access not only the great savings that it offers, but also a state of the art payment processing service which can remove virtually all our compliance and security obligations.”

Andrew Flavell, CPRAS Framework Director, said: “When we began designing this Framework, we could not have hoped for a better outcome. For any council that is not PCI DSS compliant, the Framework package provided by allpay offers a range of products allowing them to achieve compliance with minimal overheads. For those that are already compliant, the Framework service package dramatically cuts the burden of maintaining compliance. And in either case, we can achieve this whilst making cost savings of, on average, 30%.”

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post