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Introduction
The Payment Highway
ISVPS
   
   
Automated Clearinghouse Initiative - The Payment Highway
   
The Highway
It was felt that the systems architecture elements in themselves were not sufficient to address national payment systems as a whole. Therefore, the concept of a ‘Payment Highway’ was developed. This strategy provided the basis for our work in Croatia with Zavod zs Platni Promet, the ‘Agency for Payments’.

In common with the other former Yugoslavian republics, Croatia had a payment system based upon a quasi banking facility: the Agency for Payments. The management of this agency, in co-operation with the Central Bank of Croatia, were developing their strategy for national payment system reform.
 
Initial Work
Initially, our work was in the development of a plan to evolve the Agency into a modern clearing facility. This work was enhanced in the following year (1996) when we were further engaged to provide more detailed implementation plans for the ongoing development of the Agency. The Clearinghouse that was eventually established provided a net clearing and settlement service to both the commercial and postal banks in the Republic.
 
Continuous Development
During the late 1990s the company was engaged by the IBM corporation to assist their Global Payments Group. This led to a number of National Payment related assignments in many parts of the world including South Africa, Malaysia, Kuwait and South America. For example, in Peru and Venezuela we were involved in work concerned with implementing ACH facilities. At this time, a principal of the company also worked on the initial development of the Continuous Linked Settlement service.
 
Recent Work
EpayCom were then contracted to assist in the establishment of a Giro facility in Estonia. Primarily, our assignment was concerned with the implementation of the ‘Lamfalussey’ principles into the systems and operations of the Clearing Facility for Giro payments. In this area we considered and recommended on system design, settlement functions and risk management aspects. In addition we also developed the submission to the Central Bank, seeking authority to operate as a national clearing facility, for the Banks within Estonia.
 
Tel: +44 (0) 1227 273000 E-mail: info@epaycom.co.uk