LONDON - Mastercard is exploring the sale of a majority stake in its UK payments subsidiary Vocalink back to British banks as it responds to concerns about a critical asset being under US ownership, the Financial Times reported on Monday citing people briefed on the talks.
Vocalink is responsible for running much of the UK retail payments system. It designs, builds and operates bank account-based payment systems in Britain, processing over 90% of salaries, more than 70% of household bills and 98% of state benefits, according to its website.
