About three months ago, VocaLink turned
its back on SEPA
and announced a change in strategy to pursue

growth in the Immediate Payments
market.

It launched its Faster Payments solution,
which enables real-time, inter-bank mobile payments services, in
September and it has been a busy time ever since.

Now VocaLink has announced the appointment of
a new CEO.

David Yates, who was president of business
development and innovation for Western Union, will focus on
VocaLink’s ongoing investment in its core business as well as
continuing to build solid foundations for future growth.

Yates has almost 30 years experience in the
payments and transaction processing industries.

Prior to his position at Western Union, Yates
spent six years at First data Corporation, having executive
management responsibility for all of First Data’s activities
outside of the US including merchant acquiring, merchant
transaction processing and ATM network solutions business
units.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“I look forward to guiding our strategy to
bring smarter payment solutions to international markets, as well
as leading our continued focus on meeting the commercial needs of
our customers,” said David Yates.

He will take up his new post on 23 January 2012.

 

Strategic partnership with Clear2Pay

Most recently, VocaLink partnered with
Clear2Pay to provide an inter-bank real-time payments service.

The collaboration of the payments company and
the payment services provider facilitates the use of multi-channel
service options such as mobile.

The companies hope to provide an end-to-end
solution that supports real-time payment processing from the
central switch through to a bank’s back office.

Subsequently, banks will be able to make a
transition from their existing payments capability to a real-time,
immediate service.

Mark Hartley, chief marketing officer at
Clear2Pay said:

“Central banks and governments around the
world see benefits in Immediate Payment schemes in the sense of
reduced settlement risk a richer consumer proposition and equally
important, a higher velocity of money within the economy. As such
the market urgently calls for new and secure schemes [which this
collaboration offers]”.

The announcement came almost three months after VocaLink turned
its back on SEPA and decided to focus on Immediate Payments
only.

 

Read related articles by clicking on
the links below.


FSC, Logica report: SEPA critical for future of
Europe


Basel III and liquidity management top Sibos
agenda


UBI Banca makes SEPA move


In-depth article on VocaLink: Mobilising
payments


Mobilising payments