VocaLink buys out Fiserv to take control of EBPP joint venture OneVu
25 January 2010 | 10051 views | 0
VocaLink has bought out joint venture partner Fiserv to take complete ownership of electronic bill presentment and payment (EBPP) specialist OneVu. Financial terms were not disclosed.
OneVu managing director Miles Quitmann is quitting the firm, which will be integrated into VocaLink's service portfolio under Fred Bar, MD, Euro services.
Established in 2004 by Voca and CheckFree (since acquired by Fiserv) OneVu was designed to enable UK consumers to view, track and pay bills within their usual online banking service.
Used by Lloyds Banking Group and Royal Bank of Scotland, as well as several large corporates, OneVu now claims 280 million bills under management.
Marion King, CEO, VocaLink, says: "By integrating OneVu into VocaLink we can deliver greater efficiency to our banking customers and expand our retail service. VocaLink is well placed to help OneVu grow and launch new services that benefit both corporates and consumers."