News

VocaLink, LINK ink 5-year ATM processing deal

May 5, 2016

VocaLink, the international payment systems provider, has signed a five-year agreement to provide exclusive processing for the LINK ATM network. The U.K.'s largest-ever ATM processing deal, the agreement is expected to deliver more than 16 billion transactions.

Under the contract with LINK scheme and its 38 members, VocaLink will provide ATM switching and settlement services, and will support the processing function for more than 70,000 ATMs connected to LINK in the U.K. and across Europe.

"Winning the U.K.'s largest ever ATM processing deal demonstrates VocaLink's breadth of retail payments knowledge and capability," said Vokalink Managing Director Ian Gausden. "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."

The LINK deal follows a number of international contract wins for VocaLink, according to the release.

The business recently announced its expansion in the Netherlands with YourCash. A deal in the U.S. with The Clearing House will provide the payments infrastructure for America's faster payments network, VocaLink said.

LINK ATM volume has risen to more than 3.2 billion transactions annually within the past 12 months. More than 97 percent of these are surcharge free, the VocaLink release said.