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MasterCard acquisition of VocaLink concludes
MasterCard announced that it has entered into a definitive agreement to acquire 92.4% of VocaLink for about £700 million (approximately $920 million), after adjusting for cash and certain other estimated liabilities. VocaLink’s existing shareholders have the potential for an earn-out of up to an additional £169 million (approximately $220 million), if performance targets are met. This transaction [...]
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VocaLink in UnionPay ATM tie-up
VocaLink, the British operator of the Faster Payments service, has announced a five-year deal with UnionPay International to enable UnionPay cardholders to access ATMs across Europe and the UK. Under the deal, VocaLink will provide ATM transaction processing and UnionPay sponsored access. With around 5.4 billion cards in circulation, more than one-in-two (53%) bankcards issued [...]
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VocaLink signs UK’s largest ATM processing deal
VocaLink has signed a five year deal to provide exclusive processing for the LINK ATM network. The deal is the UK’s largest ever ATM processing deal and is expected to deliver over 16 billion transactions. Under the five year contract with LINK Scheme and its 38 Members, VocaLink will provide ATM switching and settlement services and will support [...]
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VocaLink launch PayPort for Faster Payments
VocaLink has launched PayPort, an end-to-end service that offers banks and other financial institutions fast, efficient and secure access to Faster Payments without the cost of introducing a new technology infrastructure. PayPort is one of the very first platforms to be accredited under the FPSL’s new Access Model and will help facilitate a level playing field [...]
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MasterCard in £1bn Vocalink bid
MasterCard has reportedly drawn up plans for a takeover of Vocalink, the bank-owned company which handles £6tn-worth of payments in Britain each year. Sky News has learnt that MasterCard, which is one of the world’s biggest credit card issuers, has approached the board of Vocalink about a deal that could be worth more than £1bn. [...]
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