[5] In 1968, the Joint Stock Banks Clearing Committee chaired by Dennis Gladwell, set-up the Inter-Bank Computer Bureau to modernise the existing paper-based standing order system.

Secure electronic funds transfer between banks was introduced from later that year,[6] significantly reducing both the processing time and human error associated with paper-based transactions, particularly bulk payments.

[12] In 2005 a joint proposal from Voca and LINK was selected to deliver the payment-processing infrastructure for the Faster Payments Service, a near real-time interbank transfer for internet and telephone banking.

[13] After Voca's bulk processing was brought together with LINK's real-time payment switching, the companies agreed to merge on 2 July 2007 to form VocaLink.

[20] VocaLink has developed Zapp, a function that will reside within mobile banking apps to allow users to make real-time payments to retailers when shopping online or in-store.

[21][needs update] A Zapp payment works through secure digital 'tokens', which means that customers don't reveal any of their financial details to retailers.

[citation needed] On 12 July 2010 through EAPS, LINK opened all UK cash machines to the similar German Girocard scheme operated by Zentraler Kreditausschuss.

[24] Similarly the VocaLink agreement with the Pulse network allows Discover card and Diners Club International cardholders to use LINK ATMs.