VocaLink secures £60m shareholder investment

7 May 2009

European payment services provider VocaLink has secured £60 million in equity capital from its shareholders, it has been announced.

The company, which provides payment services for the UK's Bacs, Faster Payments and Link transactions, said the funding will be used to strengthen its services for existing clients and to support its continued European expansion.

VocaLink acting chairman Richard Hooper said the capital injection represents a "forward-thinking vote of confidence" from the company's shareholders.

"This investment will give us the opportunity to improve our services whilst enabling us to continue providing reliable and trusted support for our clients in difficult economic times," he said.

Established in 1968, VocaLink provides national and international clearing, settlement and ATM switching services. The firm was also one of the pioneers of electronic payment services.

It switching platform connects over 60,000 ATMs in the world's busiest network of cash machines.

During peak periods, the company's automated payment platform handles over 90 million transactions a day.

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