British banking system ends up with the US

Stefan Mileschin · 25th July 2016, 15:29

MasterCard has said “that will do nicely” to itself and is going to spend up to $1.14 billion on buying a majority stake of a crucial part of the UK’s payments infrastructure.

Up for grabs is VocaLink runs Link, the network that provides interoperability between British ATMs, as well as BACS, the clearing house for payments between bank accounts, and Faster Payments, the inter-bank transfer system for Internet and telephone-based payments.

According to MasterCard the deal would create “the first true combination of the traditional person-to-merchant cards business with a clearing business”. That is, of course, presuming it clears regulatory scrutiny.

http://www.techeye.net/business/brit...up-with-the-us

25th July 2016, 15:29	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,462	British banking system ends up with the US MasterCard has said “that will do nicely” to itself and is going to spend up to $1.14 billion on buying a majority stake of a crucial part of the UK’s payments infrastructure. Up for grabs is VocaLink runs Link, the network that provides interoperability between British ATMs, as well as BACS, the clearing house for payments between bank accounts, and Faster Payments, the inter-bank transfer system for Internet and telephone-based payments. According to MasterCard the deal would create “the first true combination of the traditional person-to-merchant cards business with a clearing business”. That is, of course, presuming it clears regulatory scrutiny. http://www.techeye.net/business/brit...up-with-the-us

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Banking service SWIFT adds new security plan following hacks	Stefan Mileschin	WebNews	0	31st May 2016 13:16
Why easyJet is banking on VR, drones and 3D printing	Stefan Mileschin	WebNews	0	12th June 2015 06:53
People still fear mobile banking	Stefan Mileschin	WebNews	0	1st January 2015 08:27
Smartphone makers are banking on less being more	Stefan Mileschin	WebNews	0	5th December 2014 08:22
Woe never ends for Renesas	Stefan Mileschin	WebNews	0	4th September 2014 06:49
Weak Security In Most Mobile Banking Apps	Stefan Mileschin	WebNews	0	18th December 2013 08:45
Pricey Linux banking trojan appears	Stefan Mileschin	WebNews	0	12th August 2013 05:22
Australian R18+ Game Rating System Ends Mature Game Embargos	Stefan Mileschin	WebNews	0	20th June 2012 07:17
DirectX 10...and so it ends!	jmke	WebNews	0	2nd December 2005 17:53
Online banking too risky? Some say yes	Sidney	WebNews	0	9th November 2005 15:24