MasterCard strikes deal to acquire UK’s VocaLink
Agreement to acquire 92.4% stake will end ownership by major UK banks
MasterCard has struck a deal under which it will acquire a 92.4% stake in UK payments firm VocaLink, which operates key parts of the country's retail payments network.
The roughly £700 million ($922 million) acquisition, revealed today (July 21), would end the current model where VocaLink is owned by the UK's largest banks.
The Payment Systems Regulator (PSR), concerned the model might be harming competition – as smaller players usually have to connect to payment systems indirectly via a bank
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