Mastercard is stepping up efforts to secure a leading role in upgrading Britain’s payments systems by appointing Sir Jon Thompson, a veteran public servant and business leader, to chair its UK subsidiary Vocalink.
The move comes at a critical time for Vocalink, which runs the systems behind key parts of the UK’s financial infrastructure, as it gears up to compete for a contract to develop a new payments platform for the country.
People familiar with the planned appointment, which is awaiting approval from the Bank of England, said it was designed to demonstrate the independence of Vocalink’s board.
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