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VocaLink inks deal for UnionPay acceptance at ATMs in UK, Europe

May 17, 2016

VocaLink, an international payment systems provider, has struck a five-year deal with UnionPay International that will allow UnionPay cardholders to withdraw cash from ATMs in the U.K. and continental Europe.

UnionPay is one of the world's largest bankcard schemes, with more than 5.4 billion cards issued, according to a press release.

Under the deal, VocaLink will provide ATM transaction processing and UnionPay sponsored access, providing acquirers with a fast go-to-market solution. Typically, the value of a UnionPay card withdrawal from a U.K. ATM is five times the average value of domestic ATM withdrawal, the release said.

"This partnership represents a significant milestone in our goal to increase access to UnionPay cards internationally," said Wei Zhihong, general manager of UnionPay International Europe. "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."

The UnionPay deal follows a number of contract wins for VocaLink, including the U.K's largest-ever ATM processing deal with LINK; expansion in the Netherlands with YourCash; and a collaboration with The Clearing House to provide the payments infrastructure for the U.S. faster payments network.

According to Sara Parker, product director at VocaLink, "We have ambitious plans over the coming years as we look to further expand our payments systems into international markets."