VocaLink has secured a massive five-year deal to provide processing for the LINK ATM network.
This particular deal is reported to be the U.K.’s largest ATM processing deal, with estimates pegging the deal to deliver over 16 billion transactions.
As part of this contract with the LINK Scheme network and its 38 members, VocaLink will provide ATM switching and settlement services and will support the processing of over 70,000 ATMs connected to LINK in the U.K. and across Europe. The LINK ATM network enables 97 percent of all LINK transactions to be free for consumers. In 12 months' time, LINK ATM transactions have risen to over 3.2 billion.
“Winning the U.K.’s largest-ever ATM processing deal demonstrates VocaLink’s breadth of retail payments knowledge and capability. The deal further supports our aim to power the world's economies through creating more efficient and effective payments systems and empowering people to transact quickly, easily and securely," said Ian Gausden, managing director at VocaLink.
This comes at a particularly key time for the company as VocaLink recently announced its expansion in the Netherlands with YourCash and, in the U.S, with The Clearing House, providing the payments infrastructure for the U.S. faster payments network.