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First Data acquires ICICI Banks POS business for USD 80 million

Monday 4 January 2010 07:55 CET | News

Indian private sector lender ICICI Bank has sold its network of electronic POS terminals that accept credit and debit card payments to First Data, an electronic commerce and payment processing services provider, for USD 80 million, according to The Economic Times.

The Indian bank has set up ICICI Merchant Services, where FDC would hold 81 percent and the POS terminals have been transferred to this new company . Currently ICICI Bank has over 1.50 lakh active POS terminals.

In other news, First Data renewed its merchant services contract with Sovereign Bank, a wholly owned subsidiary of Banco Santander.
 


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Keywords: First Data, ICICI Bank, POS business, credit and debit card payments, electronic commerce, ICICI Merchant Services
Categories: Payments & Commerce
Companies:
Countries: World
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