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Security & Compliance

With security updates, Open Banking, PSD2 and a new payments architecture on the horizon, business payment processing is radically changing over the coming months.

Watch our on-demand webinar Changes in the UK Payment Industry delivered by UK payments industry experts to learn:

What are the imminent changes to the UK payments landscape, and why they are happening

How you can comply with – and future-proof against – new regulations with your payment processing technology

Which UK payments changes will benefit your organisation and how to leverage them

When you will need to take action, with tips on what to expect from your business payment processing technology

Comprehensively covering the UK payments industry changes arriving over the next six months, our best practice webinar will guide and help you prepare for the latest regulation and security standards for your business payments processing.

Questions and answers

Changes in the UK Payment Industry

BT data representation 27

What changes will we see as a result of the merger of Bacs, Faster Payments and Cheque and Credit Clearing Company?

Initially, the coming together of the scheme companies will see life get easier for a new banks wanting to have competitive access to payment systems. Over the next few years you will start to see new services such as ‘Request to Pay’, and ‘Confirmation of Payee’ launch, and then the New Payments Architecture will be with us, replacing the Bacs and Faster Payment services as you know them with improved, faster payments, with richer features.

BT currency & payments 92

What is the difference between a push and a pull payment?

This terminology is typically used by banks to describe the technical direction of a payment i.e. ‘pull’ payments are triggered by a request from the payee’s bank, ‘push’ payments are initiated by the payers bank. In reality, to the personal or business user of the Bacs schemes Direct Credit and Direct Debit, whether the payment uses a push or pull mechanism in the central payment infrastructure won’t have any impact on when the funds either arrive or leave an account or the rules that sit around the payment

BT security fraud & risk 171

How can Open banking be made secure? Does this not increase identity fraud risk significantly? Can you tell me more about the security surrounding Open Banking?

The security of customers has been at the forefront of Open Banking design from the outset. Any third party accessing your account, must be regulated by the Financial Conduct Authority, and can only do so with your permission.

In the process of giving third party permission to access your data, you will securely be asked to log into your bank’s systems to authorise access with your existing bank credentials and security – which are never shared with the requesting third party. This is done using a mature and accepted industry standard called OAuth 2.

Periodically, or if a change is made you will be made to re-authenticate with your bank via the service. You are always in control of any third-party access to your account.

BT personnel 153

In the webinar, you mentioned potential changes to the DD guarantee for businesses. Do you have any further detail as to what these changes are?

This link will take you to the results of a research ran on Direct Debit earlier this year – outlining some potential changes.

Bacs are running a public consultation from the 28th of July – there will be details on the Bacs website.

BT documentation & messaging 40

Could you please recommend any good publications to help p better understand API's, DD Scheme rules that are changing, and the payments scheme consolidation?

The DD scheme rules are available here.

Results of a DD scheme consultation earlier this year are available here.

For APIs, the Open Banking Implementation site has some good information.

We also recommend reading the summary report from the open data institute for an excellent overview of Open Banking and APIs.

On the payment scheme consolidation, there is a very comprehensive report from the Payment Services Regulator.

BT action 82

Is PTX a replacement for C-Series, and what are the advantages of PTX?

PTX is a cloud platform that includes Bacstel-IP and Faster payments capabilities equivalent to C-Series. PTX eliminates the need for on-premise software and infrastructure, negating the upfront cost of software installations or the ongoing cost of upgrades, maintenance fees or onsite security updates. By reducing your capital expenditure and operational overheads, PTX offers a cost-effective alternative to installed software, for businesses of any size, complexity and environment.

PTX is a mature cloud solution trusted by thousands of companies, offering many other benefits and capabilities for your business.

Bottomline continues to support and maintain both installed software and cloud solutions for Bacstel-IP and Faster payments, and you do not have to immediately migrate to PTX. However Bottomline does believe that with the new functionality Open Banking will bring, and the continued tightening of regulatory and security requirements, the business benefits of moving to PTX are clear.

To allow us to rapidly deliver the additional capabilities Open Banking will bring to the largest number of our clients; we have a cloud-first strategy with our PTX platform. By moving to PTX, new capabilities can be delivered as the industry changes, without interruption to your business through updates and upgrades.

BT process & representation 135

How do we ensure that our C-Series product is SHA#2 compliant?

The migration to TLS is complete; if you are currently able to submit to Bacs then your solution is TLS/SHA#2 compliant as the service now only accepts these connections.

BT personnel 149

This information sounds like it is restricted to the UK Banking Industry, but how much of it extends to other EU countries and transactions?

Across Europe, banks and Financial Institutions are gearing up for their version of Open Banking, which is part of the 2nd Payment Services Directive – more commonly known as “PSD2”. Banks across Europe can offer APIs to third parties to initiate payments or deliver account data today, however, they don’t have to offer this access until early 2019 when the necessary technical standards are in place.

BT security fraud & risk 166

Drag and drop - we recently moved to PTX which allows us to drag and drop but on webinar you have stated that you should never do this. Can you please advise?

PTX supports drag-and-drop, or file selection as a minimum mechanism to get data into the system. PTX provides automated upload and API access for highly secure data exchange of your payment files; this is always discussed as part of our migrations process, and we strongly recommend this approach for our customers. If you do not have these, please speak to your account manager about the PTX Security Pack which includes these capabilities and more to ensure your payments are fully protected.

BT personnel 144

How can I implement MFA and is it available in ePay?

MFA is not available with ePay, it is not practical to add to a solution as it sits behind your company firewall as local software; as every company has different infrastructure and policies designing one MFA solution to suit all connections is challenging. To take advantage of the additional layer of security you should consider moving to Bottomline’s cloud solution PTX, where MFA is available as part of the security pack that also contains additional features such as error and fraud detection rules to ensure your payments are protected.


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