Bacs is used by over 13,000 businesses to pay their employees and suppliers and from June 13th, its security protocols are due to switch from Secure Sockets Layer, to Transport Layer Security.
Those businesses that haven’t upgraded are poised to be unable to pay tens of thousands of employees’ salaries and suppliers in June, warns payments provider Bottomline Technologies.
Bottomline Technologies, who looks after over 60% of UK businesses using Bacs, warns that there’s an estimated 35% of businesses that have not yet upgraded - and risk not being able to make payments after the June deadline.
For businesses who have upgraded, Bottomline Technologies is urging them to take advantage of the three, newly announced test dates - 16th April, 7th May and 11th June – to ensure they won’t suffer any disruption.
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