VocaLink Signs Five Year Deal with UnionPay International

VocaLink Signs Five Year Deal with UnionPay International
16.05.2016 02:00 pm

VocaLink Signs Five Year Deal with UnionPay International


VocaLink, the international payment systems provider, today announces a five year deal with UnionPay International, which will enable UnionPay cardholders to access ATMs in the UK and continental Europe.

UnionPay is one of the world’s largest bankcard schemes, with over 5.4 billion cards issued. 

Under the deal, VocaLink will provide ATM transaction processing and UnionPay sponsored access, providing acquirers with a fast go to market solution, which allows them to accept transactions from a growing market. On average, the value of UnionPay card withdrawals from UK ATMs are five times the average value of UK ATM withdrawals. 

The deal follows a number of contract wins for VocaLink within the UK and internationally, with the business recently announcing the UK’s largest ever ATM processing deal with LINK, its expansion in the Netherlands with YourCash and a collaboration with The Clearing House, where it will be providing the payments infrastructure for the US faster payments network. 

Wei Zhihong, General Manager of UnionPay International Europe said: “This partnership represents a significant milestone in our goal to increase access to UnionPay cards internationally. We believe there is a strong strategic fit between UnionPay International and VocaLink and we were impressed with VocaLink’s proven international track record as a transaction processor of cards as well as their demonstrated speed to market.” 

“UnionPay customers will benefit from secure, reliable and accessible ATM transactions in the UK and Europe.” 

Sara Parker, Product Director at VocaLink, added: “This is an excellent deal which will ensure UnionPay cardholders can use ATMs in the UK and continental Europe. We are pleased to have won this deal with UnionPay International and it serves to highlight our ability to deliver effective payment networks both in the UK and Internationally. We have ambitious plans over the coming years as we look to further expand our payments systems into international markets.”

Related News

Amadeus and Troovo partner to automate B2B travel payments

The integration of Troovo’s advanced Robotic Process Automation (RPA) engine with Amadeus’ B2B Wallet means the entire virtual payment flow... Read more »

Enfuce approved as an authorized payment institution

Finland's biggest fintech start-up Enfuce has been accredited as an authorised payment institution by the Finnish Financial Supervisory Authority (FIN-FSA)*.... Read more »

Dune London goes live with Klarna’s popular Pay later products

The Dune Group, one of the most influential global players in fashion footwear and accessories today announced an international partnership with leading global payments... Read more »

Cards Used For Half Of Payments For First Time Last Year

Card and contactless payments continued to increase in 2019, with card payments accounting for over half (51 per cent) of all payments for the first time, according to the... Read more »

SumUp Supports Local Businesses with Gift Cards on Instagram and Facebook

UK-based payments service provider SumUp (www.sumup.co.uk) today announces a new experience to enable customers to... Read more »

Landesbank Berlin chooses SIA for the new payment card management system in Germany

Landesbank Berlin, Germany`s largest issuer of co-branded credit cards, has chosen SIA, European hi-tech company, leader in the fields of... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel