LONDON, January 25 /PRNewswire/ -- VocaLink, the international payment transaction specialist, today announced that it has bought out its joint venture partner, Fiserv, to become the sole owner of OneVu, the consolidated electronic bill and data presentment service.
Miles Quitmann, OneVu's Managing Director, has taken the decision to leave the company at the end of January to pursue new opportunities. Fred Bar, Managing Director Euro Services, will take functional responsibility for OneVu and complete the integration into VocaLink's service portfolio.
OneVu is a critical online banking service for many of the UK's leading corporates and banks including Lloyds Banking Group and The Royal Bank of Scotland. OneVu already has 280 million bills under management and is supporting its corporate customers in their move away from costly paper bills, reducing their impact on the environment. By consolidating a number of online bills, UK consumers can benefit from reduced prices and the convenience of having a number of household bills in one secure place.
Marion King, Chief Executive Officer at VocaLink, commented By integrating OneVu into VocaLink we can deliver greater efficiency to our banking customers and expand our retail service. VocaLink is well placed to help OneVu grow and launch new services that benefit both corporates and consumers. I would like to take this opportunity to thank Miles for his considerable contribution in leading OneVu and successfully building the customer base and service portfolio.
Notes to Editors
VocaLink is a specialist provider of transaction services to banks, their corporate customers and Government departments. It processes domestic and international automated payments and provides ATM switching solutions. On a peak day, the VocaLink automated payment platform processes over 90 million transactions and over half a billion in a month. Its switching platform connects the world's busiest network of over 64,000 ATMs. Its Real-Time Payments platform provides the central infrastructure for the UK Faster Payments Service. VocaLink is working with BGC (Bankgirocentralen), to provide outsourced processing for the majority of Sweden's domestic payments.
Having pioneered electronic payments over 40 years ago, many of the world's top banks and their corporate customers have grown to rely on VocaLink to meet their transaction needs. Its processing services offer banks reach throughout the Single Euro Payments Area (SEPA) and beyond; and are complemented by value-added services that leverage industry expertise and technical capabilities.
VocaLink collaborates with the Centre for Economics and Business Research (CEBR) to produce a monthly index tracking take-home pay inflation in the UK. It is compiled from the salary payments of a sample of FTSE 350 companies. The VocaLink Take Home Pay Index is used by economists, analysts and the media. Pay inflation is an important aspect of the UK's economic performance and is one of the components that drive the Monetary Policy Committee's monthly interest rate decision.
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CONTACT: For further information, please contact: Suzanne Hewitt, Hotwire,+44(0)20-7608-2500 or firstname.lastname@example.org; Deborah Souter, VocaLinkLimited, +44(0)870-920-8651 or deborah.souter@VocaLink.com