LONDON, May 5 /PRNewswire/ -- VocaLink, the European payment specialist and central provider of services to the UK's Bacs, Faster Payments and LINK transactions, has announced today it has received an investment of GBP60 million in equity capital from its shareholders. This new funding will strengthen its resilient services for existing clients while supporting the company's continued growth in Europe.
Commenting on the investment Richard Hooper, acting Chairman of VocaLink, said: This is a forward-thinking vote of confidence from our shareholders. It recognises their commitment to securing the future reliability and security of the payments industry. This investment will give us the opportunity to improve our services whilst enabling us to continue providing reliable and trusted support for our clients in difficult economic times.
VocaLink has significantly expanded its product and service portfolio since its merger in 2007. Last year the company achieved two award-winning(1) world firsts; Sweden's national processor Bankgirocentralen (BGC) outsourced the majority of its payments processing to VocaLink and the Faster Payments Service was launched on the company's revolutionary real-time payment platform. VocaLink also offers a broad range of Euro and ATM managed services in addition to traditional clearing and settlement services.
Our exemplary track record in the payment transactions business has given our shareholders the faith to invest in our future, commented Marion King, Chief Executive Officer of VocaLink.
As a trusted and progressive company we are always looking to enhance our services to provide greater benefits for our clients. We are ideally placed to deliver cost savings and new revenue streams to banks as they reassess their sourcing strategies. The investment will allow us to strengthen these offerings and reinforce our position as a world leading partner to the payments industry in the UK and the rest of Europe.
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 60,000 ATMs. Its Real-Time Payments platform provides the central infrastructure for the UK Faster Payments service. VocaLink is working with Bankgirocentralen (BGC) to provide outsourced processing for the majority of Sweden's domestic payments.
Having pioneered electronic payments for over four decades, many of the world's top banks and their corporate customers 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.
Visit http://www.vocalink.com for more information.
(1) On 26 March 2009, VocaLink won three Financial Sector Technology awards: Best payment system deployment (Faster Payments Service) Best outsourcing partnership (Bankgirocentralen (BGC)) Overall winner (Faster Payments Service) Gerald Cross, The JJ Group +44(0)1865-343100, firstname.lastname@example.org Deborah Souter, VocaLink +44(0)870-920-8651, email@example.com
Gerald Cross, The JJ Group, +44(0)1865-343100, firstname.lastname@example.org; Deborah Souter, VocaLink, +44(0)870-920-8651, email@example.com