Report Gives First Data Edge In India's Terminal Venture

By First Data Corp.

Published June 18, 2009, 1:00 a.m. EDT

|

Updated June 18, 2009, 12:00 a.m. EDT

1 Min Read

IMGCAP(1)]

Processing Content

India's ICICI Bank Ltd. could create a point-of-sale business joint venture with United States-based processor First Data Corp., according to a report in the India-based Economic Times newspaper. Last month, the bank announced plans to form the joint venture and said the chosen partner would hold an 80% stake in the business (CardLine Global, 18 May). The paper identified First Data as the main contender for the deal. Bank officials declined to comment on the report to CardLine Global, as did First Data. "We don't like to comment on market rumors," says Amrish Rau, First Data vice president and country manager for India.

First Data Corp.

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

MORE FROM AMERICAN BANKER

Federal Reserve

Fed flags overheated markets as top stability risk

The Federal Reserve's April financial stability report found that asset valuations remain elevated, even as investors are beginning to demand more compensation for risk amid rising uncertainty around monetary policy.

By Maria Volkova
Reporter

May 8
Litigation

Appeals judge sends Illinois interchange case back to district court

Banking groups that sued the state of Illinois over its law barring banks from charging interchange fees on taxes and tips cheered an appeals court ruling remanding the law to a lower court and vowed to keep the law going into effect, which is slated for July 1.

By Ebrima Santos Sanneh
Reporter

May 8
Industry News

Goldman taps Feldgoise, Schiffrin; Fidelity to cut 800 staffers

Stephan Feldgoise and Joshua Schiffrin will join Goldman Sachs' management committee; Fidelity Investments is dismissing about 800 personnel as it restructures its technology and product-delivery teams; Citi has hired JPMorgan's André Ross as its country officer and banking head for South Africa; and more in this week's banking news roundup.

By Traci Parks
Copy editor, American Banker

May 8
Buy now pay later

Affirm's Levchin rejects AI layoffs

Affirm CEO Max Levchin said that the company did not have any plans for AI-spurred layoffs despite the fact that it was using the technology more for software engineering.

By Joey Pizzolato
Reporter

May 8
JPMorgan Chase

What payment leaders had to say at American Banker's Payments Forum

Leaders from Wells Fargo, JPMorganChase and more talked about how banks can respond to the fast-moving changes in money movement, new forms of artificial intelligence, fraud, digital assets and more.

By John Adams
Executive Editor, Payments

May 8
Earnings

Jack Dorsey touts Block's AI-driven restructuring

The payments company posted strong adjusted earnings following a dramatic downsizing, which management attributed to the influence of artificial intelligence.

By John Adams
Executive Editor, Payments

May 8

Load More