First Data Corp. of Denver has acquired Instant Cash Services, an automated teller machine processor, from Wells Fargo & Co.
The deal was announced last month. First Data announced its closing this week but did not say how much it paid.
Instant Cash provides debit and ATM transaction processing services for more than 500 financial companies, mainly community banks, thrifts, and credit unions.
First Data will continue to operate the Instant Cash Network under the Instant Cash brand name; Wells will continue to use the network.
When the deal was announced, Wells acknowledged that Instant Cash's offerings were no longer competitive with the much larger menu of payments products and services available from larger debit companies, such as First Data's Star Netork.
