Vocalink has announced that it has signed a new contract with LINK to continue to provide ATM switching and settlement services until 2031. Having been the infrastructure partner to LINK... more
As of May 1st, there has been a new operator of the UK’s two most important retail payment schemes. New Payments Systems Operator Limited – or NPSO for short – has acquired Bacs Payments Systems Limited and Faster Payments Limited, whose schemes move more than £6.4 trillion every year, through the Bacs Direct Credit, Direct [...]
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Mastercard says the UK’s Competition & Markets Authority’s decision has cleared the way for the completion of the company’s planned acquisition of VocaLink. The CMA gave final approval for the proposed set of remedies that address the competition concerns the CMA identified earlier this year. The deal is now expected to close in the coming weeks. “We [...]
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The Competition and Markets Authority (CMA) has found that Mastercard’s acquisition of VocaLink gives rise to competition concerns. Mastercard already owns and operates credit and debit card schemes Mastercard, Maestro and Cirrus, and has also bid to supply infrastructure services to UK interbank payment systems. VocaLink is a supplier of payment infrastructure services to three major UK [...]
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The largest UK banks are set for another windfall with the sale of the bank-owned payments company VocaLink to Mastercard for £700 million ($920 million) – but what are the ramifications for the UK payments industry? NEWS OF THE deal came in July, months after the UK payment systems regulator (PSR) recommended the divestment of [...]
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