iPayment Acquires Accounts From FirstData

December 29, 2004, 1:00 a.m. EST 1 Min Read

Facebook
Twitter
LinkedIn
Email
Show more sharing options
Share Show more sharing options

Register now

NASHVILLE, Tenn. - (12/29/04) -- iPayment Inc. said Tuesday it hasagreed to acquire a merchant account portfolio from First DataCorp. for $130 million. The portfolio will add about 25,000locations and more than $9 billion in annual charges to iPayment'snetwork and lift the payment processor's annual charge volume bymore than half. The deal follows last year's agreement by iPaymentto acquire 18,000 merchant accounts from First Data.

Facebook
Twitter
LinkedIn
Email
Show more sharing options
Share Show more sharing options

Reprint

For reprint and licensing requests for this article, click here.

TRENDING

Paycheck Protection Program

House PPP forgiveness plan is better than nothing, bankers say

Lenders are disappointed with a low proposed cutoff for blanket forgiveness, but they said the proposal, which waives applications for some loans, is a good first step.

By John Reosti

21m ago
CFPB

CFPB announces nationwide crackdown on abusive debt collectors

Through Operation Corrupt Collector, the bureau is coordinating with over 50 other state and federal agencies to target firms for wrongdoing and inform consumers of their rights

By Kate Berry

1h ago
Data sharing

Small Louisiana bank gives customers tool to safeguard their data

Origin Bank is rolling out software to let customers curb or shut down account-data sharing with third-party apps. In the process, it hopes to learn a lot about client behavior and preferences that it could use in its own products.

By Penny Crosman

1h ago

MORE FROM AMERICAN BANKER

Federal Reserve

Bankers skeptical Fed’s Main Street program will pick up steam

Loan officers surveyed by the central bank said the subpar creditworthiness of some applicants and the ability of others to find credit elsewhere are among reasons the middle-market rescue facility has fizzled.

By Hannah Lang

2h ago
M&A

Small Virginia Beach credit union to merge into Chartway FCU

Members of St. Matthews Federal Credit Union are set to vote on whether to join the $2.3 billion-asset Chartway before the end of the year.

By Aaron Passman

2h ago
Digital payments

Banking groups urge Congress to block OCC payments charter

Various trade organizations sent letters to a House Financial Services Committee task force saying lawmakers should "actively discharge their oversight prerogatives" as the national bank regulator considers giving licenses to companies that do not accept deposits.

By Brendan Pedersen

4h ago
Cryptocurrencies

Financial institutions, government still wary of crypto

Employees in the financial industry and public sector are considerably more worried about the risks posed by digital currency than those in the cryptocurrency field, a new survey finds.

By Brendan Pedersen

5h ago
Community banks

First Merchants to shuffle management after CEO's retirement

Michael Rechin will step down at the end of this year. The Indiana company tapped CFO Mark Hardwick as its next CEO, while Michael Stewart, its chief banking officer, will become president.

By John Reosti

6h ago
Women in Banking

The Most Powerful Women in Finance

Many of the women in this year's list are familiar to American Banker readers, including J.P. Morgan's Mary Callahan Erdoes, Fidelity Investmemts' Abigail Johnson and Synchrony Financial's Margaret Keane. Seven honorees are newcomers, including two, Maria Hackley and Ida Liu, from Citigroup.

September 28