In the UK, VocaLink processes over 90% of salaries, more than 70% of household bills and almost all state benefits, morningstar.co.uk reports, citing Sky News. In 2015, VocaLink processed over 11 billion transactions with a value of GBP 6 trillion.
The UKs Payment Systems Regulator has communicated that Vocalinks ownership structure should undergo changes. Lloyds Banking Group PLC, Royal Bank of Scotland Group PLC, HSBC Holdings PLC and Barclays PLC are among the biggest shareholders in Vocalink.
Mastercard expressed interest in a takeover prior to the Payment Systems Regulators comments, which followed a review into the ownership and competitiveness of the infrastructure that supports Bacs, Faster Payments System (FPS) and LINK. Mastercard is keen to acquire at least a partial stake in Vocalink, the source cites.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now