CreDec launched its Faster Payments service this month enabling its customers to make payments via both the BACS and Faster Payments Schemes.
CreDec joins the Faster Payments Scheme as an indirect participant, as an agency bank of Starling Bank, with its own dedicated Sort Code and account numbers.
The addition of Faster Payments allows CreDec customers to use CreDec services without any dependency on their existing bank account provider to sponsor access and benefit from real time payment processing.
Customers continue to maintain and use their existing business current account and fund their batch or single payments at CreDec for payment and settlement by CreDec.
Credit balances remain in customers’ bank account until paid by CreDec, ensuring the customer always has full control of their own funds in their own designated bank account.
All businesses with an online bank account, no matter their size, can now use CreDec payment services to automate their payments activity, providing valuable efficiencies, cost savings and improving overall productivity.