Payments provider, VocaLink, is to make a phased withdrawal of its Euro CSM and SEPA value added services.
Marion King, CEO at VocaLink, says: “Whilst SEPA has been a positive development for Europe, volumes remain comparatively low. As a result, we have decided to realign our global products to reflect our customers’ current priorities around immediate payments. We are committed to providing robust and innovative payments services that meets market demand and the commercial needs of our customers.”
Meanwhile, following a strategic review of the global payments market, VocaLink has created a global transaction services team. Under the leadership of Marc Terry, it will deliver a wide range of services to global customers and partners through its real-time payments expertise and leading presence in clearing and switching.
Terry comments: “We have conducted extensive international research into the payments needs of our customers as well as the typical consumer which we will be sharing at this year’s Sibos conference. Overall, there is a widespread desire to move towards immediate payments. As the experts in this technology, we are best placed to support this innovation and assist our customers and partners in the delivery of next generation payments services.”
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