The BACSTEL payment service was withdrawn at the end of December 2005 and replaced by BACSTEL-IP. Required

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The BACSTEL payment service was withdrawn at the end of December 2005 and replaced by BACSTEL-IP.

Required Briefly describe the four stage processing procedure of BACSTEL-IP and explain the main advantages of the new service.

Before answering the question have a look at the information available @ http://www.bacs.co.uk/bpsl/bacstelip.

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