Capgemini has agreed to add VocaLink's managed payment service product to its cloud-based banking product.
The VocaLink PayPort product will be included with Capgemini's Connected Banking system, according to a Wednesday announcement. The addition of PayPort will allow financial institutions to avoid building or maintaining their own costly infrastructure, the companies said.
“Banks can compete with newer providers … [to] provide fast, secure and immediate payments services,” said Kartik Ramakrishnan, senior vice president at Capgemini Financial Services.
“More banks will have the peace of mind that their payments services will be available in real-time, while being maintained and updated to keep pace with changes in technology and the evolving payment environment,” said Jim Wadsworth, product director at VocaLink.
Capgemini has a similar partnership with First Data, which collaborates with Capgemini to accelerate payments technology development and international market penetration.