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Cash Dispensing

HM Treasury written question – answered on 27th February 2017.

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Photo of Clive Betts Clive Betts Chair, Housing, Communities and Local Government Committee

To ask Mr Chancellor of the Exchequer, what discussions his Department has had with the Competition and Markets Authority on ensuring a sustainable future for the LINK scheme in advance of approval of the sale of Vocalink.

Photo of Simon Kirby Simon Kirby The Economic Secretary to the Treasury

The Competition and Markets Authority (CMA) is responsible for strengthening business competition and preventing and reducing anti-competitive activities. The Payment Systems Regulator, which the Government set up in 2015, is responsible for promoting competition and innovation within the payments market, and ensuring that payment systems are operated and developed in a way that considers and promotes the interests of those that use them.

The CMA is investigating the anticipated acquisition by MasterCard UK Holdco Limited, an affiliate of MasterCard International Incorporated, of VocaLink Holdings Limited. The Government does not involve itself with CMA investigations.

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