Barclays has introduced a cloud-based contingency payment service for corporate clients.
The new payment channel is designed to serve a backup payment channel when the primary channel is inaccessible. Cloud-delivered technology has become a popular business continuity option for financial institutions.
“Our clients want to have certainty that they will be able to manage cash and make payments whenever and wherever they need to,” Michael Mueller, managing director and head of cash management at Barclays Corporate Banking, said in a news release.
AccessPay provides the technology platform for Barclays' contingency service.