First Data

If Bank of America had decided a few years ago to end its joint venture with First Data, it would have been looked upon as just another instance in which a bank was either planning to handle its own payments in-house, or turning those tasks over to a processor.

Bank of America said it will end a payments joint venture with First Data next June when a contract between the two companies expires.

The fallout from this spring’s slate of multibillion-dollar payment company acquisitions began swiftly, as Bank of America on Monday announced plans to end its joint venture with First Data just hours after Fiserv’s acquisition of First Data closed.

Fiserv expects its $22 billion purchase of First Data Corp. to close on Monday after clearing regulatory requirements.

An acquisition as large as Fiserv's deal to buy First Data has lots of moving parts, but one big piece may be a new First Data product that's designed to improve the vexing problem of payment approvals.

A trio of big deals in the payments and financial tech area and continued bank and venture capital interest in fintech investments are creating expectations for a banner year.

Fiserv Inc. is kicking off a cross-Atlantic bond sale that could raise about $12 billion to help finance its acquisition of First Data Corp.

Following the FIS-Worldpay and Fiserv-First Data deals, the payments and bank technology industries are in the midst of major consolidation, and TSYS is looking for a merger partner to stay competitive.

First Data has had significant relationships with Citi, Chase, Bank of America and other large banks — but a report that Bank of America may be ending its joint venture with First Data could send waves throughout the payments industry for what it signifies.

Allied Irish Banks and First Data's joint venture have agreed to a $112 million deal to purchase the consumer payment network and merchant acquirer.

FIS’s $43 billion agreement to acquire Worldpay and Fiserv’s $22 billion deal to buy First Data are largely closing the gaps between financial technology and merchant acquiring. But these mergers are only the first of many steps.

Bank technology giants FIS and Fiserv are spending nearly $66 billion between them in just the past few weeks to add a broad swath of payments technology — including a few key nuggets that will help them go toe to toe with fintechs.

First Data’s transformation over the past few years has involved much more than transaction automation, and has relied heavily on the creativity and ingenuity of executives such as Mia Shernoff.

Alipay is a force to be reckoned with outside of China, but it has taken a strategic approach to foreign markets that downplays its potential as a threat to local payment systems.

As major vendors consolidate, financial institutions should be looking to adopt emerging technologies, rather than relying solely on legacy firms to provide services.

TotalHousehold Pro, a website platform for home improvement contractors to manage their businesses, is partnering with CardConnect to launch a mobile app to allow contractors to accept payments in the field.

As major vendors consolidate, financial institutions should be looking to adopt emerging technologies, rather than relying solely on legacy firms to provide services.

Fiserv’s $22 billion deal to acquire First Data creates pressure to scale core banking and payment processing that may force further industry consolidation.

While the transaction will lower the cost of servicing First Data’s massive debt, the fintech and processing giant will be more complex and ponderous, writes Eric Grover, a principal at Intrepid Ventures.

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