Mastercard subsidiary Vocalink secured multi-year contract extensions with Pay.UK, the operator of the United Kingdom's retail payment systems.
The renewal ensures Vocalink continues providing central infrastructure services for the UK's core interbank payment systems. This coverage includes the Faster Payments System (FPS), Bacs, and the Image Clearing System (ICS), with continuity planned into the early 2030s.
These systems form the backbone of the UK economy. Vocalink securely processes over £37 billion worth of payments daily for Pay.UK through this infrastructure.
The updated extensions aim to maintain high service reliability and meet new regulatory requirements. The agreement enhances resilience and supports future innovation, providing stability for UK financial activities while work on future retail payments infrastructure proceeds.