VocaLink Buys Out Fiserv for Control of OneVu
VocaLink, an international payment transaction specialist, has bought out its joint venture partner, Fiserv, to become the sole owner of OneVu, the consolidated electronic bill and data presentment service.
Miles Quitmann, OneVu’s managing director, has decided to leave the company at the end of January to pursue new opportunities. Fred Bar, managing director euro services will take functional responsibility for OneVu and complete the integration into VocaLink’s service portfolio.
OneVu is used by many of the UK’s leading corporates and banks, including Lloyds Banking Group and The Royal Bank of Scotland. OneVu has 280 million bills under management and is supporting its corporate customers in their move away from costly paper bills, reducing their impact on the environment.
Marion King, chief executive officer (CEO) at VocaLink, said: “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.”