UK payments network operator Voca is teaming with card fraud prevention outfit Retail Decisions and mobile services group MiPay to launch a new joint venture company, Digital Payments, with the aim of extending direct debits to new media channels.
The partners say Digital Payments will enable retailers to manage consumer payments on remote sales channels including digital television, the Internet and mobile phones. Consumers will be able to pay by direct debit across these channels for the first time in the same way as they use a credit card.
Voca, which operates the Bacs payments network and has a mandate to develop new commercial ventures, brings transaction processing, merchant billing and settlement to the table. ReD will provide fraud prevention and payment processing, bank account validation and customer behaviour profiling, while Mi-Pay brings the merchant interface, consumer interface, message switching and digital channel applications.
The joint venture parties have appointed former CEO of BT click&buy, Ian Price, as managing director of Digital Payments.
Financial details of the arrangement, including investment levels, staffing and share of equity have not been disclosed.
Separately, Retail Decisions has announced a strategic alliance with IP routing and transaction delivery firms Datawire Communication Networks and Sarian Systems, to create ReD1Link, with the aim of providing high street retailers with payment processing over existing broadband lines rather than multiple phone lines.