Mastercard is exploring the sale of a majority stake in UK payments infrastructure provider Vocalink back to British banks, as concerns mount over foreign ownership of a strategically important payments asset, according to a report by the Financial Times.
The newspaper, citing people familiar with the matter, said discussions remain at an early stage and no formal offers have been made.
Mastercard acquired Vocalink in 2016 from a consortium of 18 UK lenders for an initial £700 million, with additional payments linked to the company’s future performance.
According to the Financial Times, a sale of a 51% stake could value the business at around £400 million. One potential buyer is DeliveryCo, a banking industry-backed entity established to oversee procurement for Britain’s next-generation retail payments platform. However, the report said any transaction is unlikely to take place before next year.
The potential divestment comes as the UK government and the Bank of England push for greater competition and resilience in the country’s retail payments landscape. Vocalink operates critical payment infrastructure, including systems that process millions of transactions daily, making it a strategically significant asset within the UK’s financial system.
A return of majority ownership to British financial institutions could help address concerns over overseas control of key national payments infrastructure while aligning with broader efforts to modernise the UK’s retail payments ecosystem.
Neither Mastercard nor the parties involved have publicly confirmed the discussions. The talks remain preliminary, and there is no certainty that a transaction will be completed.
