Bacs payments service security changes – Are you ready?

Bacs payment security changes buttonBacs has announced that in June this year it will be making significant changes to the security of its (and its approved software suppliers’) payments service. If you haven’t made the necessary software update by 13th June 2016 then you will be unable to make payments using Bacs or collect direct debits.

For such an important change which will no doubt affect a huge number of businesses it’s surprising then that until now this news has slipped relatively under the radar.

We wanted to ensure our clients are fully informed on these upcoming changes as, although we don’t provide Bacs software, we are aware of the key link it represents in the operational capabilities and overall business solutions (which our systems sit at the core of) in place at your businesses.

Bacs warns: “It is crucial to your organisation that you understand and take action regarding the imminent security changes to your payment submission process called SHA-256 SSL and TLS1.1/1.2.”

We’d suggest that acting now, avoiding delay and ensuring your software is upgraded is the best course of action to ensure there’s no last minute panic as the deadline approaches.

If you haven’t done so already check with your Bacs Approved Software Supplier that your Bacstel-IP software currently supports, or will be upgraded to support, SHA-2 SSL certificates and TLS 1.1/1.2 by the deadline. If your business submits payment files directly to Bacs services you should contact a Bacs Approved Software Supplier to discuss what steps to take for upgrading your software.

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