VocaLink is a unique company with an unequalled reputation for ground breaking innovation and total reliability.
Our platforms run on technology that is "always on", and as providers of the UK national payments infrastructure, we are the only company with universal reach throughout the UK banking system.
The UK banking industry trusts VocaLink to provide a "national grid" for payments with the scale and reliability to meet both its immediate needs and its strategic ambitions.
We are owned by banks but run as an independent company, with our own vision: to make it easier for everyone to access payments using the technology of their choice.
VocaLink is the power behind The UK Faster Payments Service, the biggest advancement in UK payments for several decades.
This gives consumers direct access to the UK payments infrastructure and is designed to run in parallel with the existing Bacs service.
The Faster Payments Service runs on the VocaLink real-time payments platform.
Faster Payments enable interbank funds transfers in near real time, typically initiated via the internet or phone.
Over £770 billion was processed though Faster Payments in 2013 and more than £433 billion payments have been processed during 2014.
The Faster Payments Service is available 24x7x365. Member banks account for about 95% of payments traffic through the service.
Mobile: a new dawn in payments
Today, we believe mobile payments represent the biggest step-change in payments since the introduction of cash.
Read the latest mobile usage research from VocaLink.
VocaLink is working with the Payments Council to build and maintain a central database that allows bank customers to link their mobile phone numbers and bank accounts.
This heralds a new dawn in payments history, making possible a range of person-to-person, person-to-business and business-to-business mobile payments.
Mobile payments have infinite applications and offer a practical, real-time alternative to cash.
The spread of mobile payments will also boost financial inclusion by bringing electronic payments within the reach of anyone with a mobile phone and a bank account.
VocaLink works with the UK government to help it realise its vision of making electronic payments more democratic and reducing the UK economy's reliance on cash.