The CMA gave final approval for the proposed set of remedies that address the competition concerns the authority identified earlier in 2017. The deal is now expected to close in the coming weeks, according to a Mastercard press release.
VocaLink’s technology powers immediate payments (also known as fast ACH) in the world’s largest financial markets. This includes the UK, Singapore and Thailand, with the US scheduled to go live later in 2017. The acquisition will enable Mastercard to play a more strategic role in the UK as well as in other markets around the world.
Moreover, VocaLink will add its outstanding team with specialised expertise, unique bank account-based technology and services such as fraud management analytics to the existing Mastercard business. The combination will enable a more holistic approach to retail, person-to-person and business-to-business payments and a broader range of services.
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