Now that the ink has dried on the paper, Mastercard’s acquisition of Vocalink is now official, as announced today on Mastercard’s Q1 earnings release. In the digital world, with consumers increasingly turning online to make every day purchases or using mobile apps to do the same in physical stores, speed, efficiency and customer choice is essential. With the Vocalink acquisition, Mastercard is able to leverage Vocalink’s ACH payments capabilities to accommodate the businesses, consumers and governments choosing to make payments using the ACH rails.
Mastercard’s president and CEO, Ajay Banga, commented on the company’s start to the year and how this acquisition will change payments. He said “We’re off to a very good start, with strong revenue and earnings growth driven by solid transaction and volume levels this quarter. We continue to execute well against our strategy, and by completing the Vocalink acquisition, we can now offer an even greater set of payment options to our customers. This deal redefines our opportunities and positions us favorably to capture new payment flows.”