22 February 2017
visit dh.com

VocaLink reportedly sounding out investors for new mobile bill service

27 November 2012  |  7955 views  |  0 Mobile phone turning to cash

The UK's VocaLink is seeking funding to create a new company that will focus on the development of technology for mobile-enabled electronic bill presentment and payment services for utilities and small businesses, according to Sky News.

VocaLink already operates MyBillsOnlinje, a service that lets users view bills and statements in one place. The site taps technology from OneVu, the electronic bill presentment and payment specialist that VocaLink took complete control of in January 2010 after buying out joint venture partner Fiserv.

The new service, which is being developed using the project name Zap, would allow companies to present bills to consumers on their mobile phones, and for immediate payment to be made if customers have sufficient funds in their accounts.

Quoting "insiders", Sky News says that Vocalink's chief executive David Yates is in talks to raise seed funding from the big banks. A major investment bank is expected to be hired in the near future to co-ordinate the fundraising, say the Sky sources.

The service will be launched using a new consumer brand-name which has yet to be created, says Sky, and could be up-and-running by 2014.

The UK Payments Council has already commissioned VocaLink to build a central database that will allow bank customers to link their mobile phone number to their account for person-to-person mobile payments.

Sky's sources say that the ownership structure of the new company would be "more entrepreneurial", with shares potentially sold to SMEs, utilities, retailers and "other participants in the payment value chain".

VocaLink has declined to comment.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

VocaLink partners BCSIS on Immediate Payments in Singapore

VocaLink partners BCSIS on Immediate Payments in Singapore

29 October 2012  |  8074 views  |  0 comments | 2 tweets | 1 linkedin
VocaLink, First Data and Accenture pitch Aussie real-time payments system

VocaLink, First Data and Accenture pitch Aussie real-time payments system

11 September 2012  |  11698 views  |  1 comments | 1 linkedin
MasterCard hires VocaLink veteran King to lead UK and Ireland ops

MasterCard hires VocaLink veteran King to lead UK and Ireland ops

06 February 2012  |  8986 views  |  3 comments
VocaLink names David Yates as new CEO as King moves on

VocaLink names David Yates as new CEO as King moves on

06 December 2011  |  13253 views  |  0 comments
VocaLink ditches Sepa services

VocaLink ditches Sepa services

22 August 2011  |  16583 views  |  4 comments
Brits want 'Immediate Mobile Payments' - VocaLink

Brits want 'Immediate Mobile Payments' - VocaLink

25 October 2010  |  9892 views  |  0 comments
VocaLink launches consumer bill payment portal

VocaLink launches consumer bill payment portal

28 January 2010  |  6619 views  |  0 comments
VocaLink buys out Fiserv to take control of EBPP joint venture OneVu

VocaLink buys out Fiserv to take control of EBPP joint venture OneVu

25 January 2010  |  9624 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit contisgroup.comvisit dh.comVisit Yelloco.co.uk

Top topics

Most viewed Most shared
IBM and Visa join forces to turn billions of connected devices into points of saleIBM and Visa join forces to turn billions...
18423 views 11 comments | 54 tweets | 91 linkedin
Kevin the bot uses blockchain to offer insurance for P2P transactionsKevin the bot uses blockchain to offer ins...
8684 views comments | 17 tweets | 15 linkedin
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
8541 views comments | 47 tweets | 63 linkedin
RBS to become fintech fund and high street outlet for challenger banks under HMT remedyRBS to become fintech fund and high street...
7278 views comments | 36 tweets | 33 linkedin
Standard Chartered connects corporate customers to WeChatStandard Chartered connects corporate cust...
5955 views comments | 17 tweets | 19 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job