i-movo teams up with ClearBank and DWP to digitise UK’s benefits payments system
The UK’s Department for Work and Pensions (DWP) has teamed up with voucher platform i-movo and clearing bank ClearBank to digitise benefit payments.
ClearBank is providing API access to payments systems
Many benefits claimants in the UK choose to receive their payments in cash, collected using a paper-based system.
The only other option is the use of a Post Office Card Account, but that programme is sunsetting this year
The new deal creates a system called Payment Exceptions Services (PES), which aims to make benefits payments quicker and safer.
Using it, each recipient can choose from a range of methods to receive their vouchers. These can then be withdrawn at 28,000 PayPoint-compatible retailers in the UK, or 11,500 Post Offices.
ClearBank provides i-movo with connection to its API, through which BACS and Faster Payments can help issuance of the vouchers in real-time.
The new service also offers customers online access to their payments history.
“Through this new service, the unbanked will be able to receive their benefit payments simply, safely and conveniently,” says Nick Wiles, CEO of PayPoint, i-movo’s parent company.
“Fundamental to its success is i-movo’s leading secure digital voucher technology. By drawing upon its experience of the last three years, we have worked with DWP to deliver an innovative solution.”
Charles McManus, CEO at ClearBank, adds the service is “an important step in providing help to vulnerable claimants”.
