Mastercard is exploring the sale of a 51% stake in its UK payments subsidiary, Vocalink. The Financial Times first reported the potential divestment.
The UK government and Bank of England raised concerns over US ownership of critical national infrastructure. Regulators also highlighted a lack of competition within the payments sector.
Vocalink operates the Bacs and Faster Payments systems. These platforms process the majority of UK salaries, household bills, and state benefits.
Mastercard purchased Vocalink for roughly £700 million in 2017. The proposed sale could value the majority stake at approximately £400 million.
DeliveryCo, an entity backed by UK banks and payment firms, is a potential buyer. Discussions are currently in the early stages.