Latest news with #AIBMS
FF News
2 days ago
- Business
- FF News
Fiserv to Acquire AIB Merchant Services
Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology, announced today that it has agreed to acquire the remaining 49.9% of AIB Merchant Services ( AIBMS ), its joint venture with AIB Group, in a transaction focused on driving continued growth in Ireland and the broader European market. Founded in 2007, AIBMS is one of Ireland's largest payment solution providers and one of Europe's largest e-commerce acquirers. AIBMS has been very successful to date and AIB Group will continue to work exclusively with AIBMS and Fiserv by referring customers who require merchant acquiring services. Financial terms of the transaction were not disclosed. 'We have enjoyed a strong partnership with AIB Group, as together we grew AIBMS into one of the leading acquirers in Europe, and I look forward to continuing to work closely with them to support our mutual clients,' said Katia Karpova, head of the EMEA region at Fiserv . 'Our focus will remain on delivering market-leading solutions to clients of all sizes across Ireland and the broader European market. We are particularly excited for the opportunity to accelerate the local penetration and growth of Clover, the world's smartest point-of-sale system and business management platform.' 'Following a successful Joint Venture partnership, we believe Fiserv has the commitment, experience and innovative technical solutions to grow AIBMS and that our customers will continue to be well-served under their sole ownership,' said Colin Hunt, chief executive officer of AIB . 'Recognising the strength of the AIB customer franchise, we are pleased to support our business customers by maintaining a close on-going relationship with Fiserv. AIB continues to implement its strategy at pace, with strong progress in each of our three focus areas: Customer First, Greening our Business and Operational Efficiency and Resilience. We wish AIBMS and Fiserv every success in the future.' The transaction is subject to regulatory approvals and closing conditions and is expected to close in the third quarter. Companies In This Post Fiserv AIB
Irish Examiner
2 days ago
- Business
- Irish Examiner
AIB Group to sell minority shareholding in merchant services business
AIB has announced the sale of its minority stake in its merchant service business to Fiserv. Founded in 2007 as a joint venture between the lender and Fiserv, AIB Merchant Services (AIBMS) is one of Ireland's largest payment solution providers and one of Europe's largest e-commerce acquirers. The service enables businesses to accept card payments from their customers. AIB confirmed that there will be no day-to-day change for AIBMS customers as a result of the announcement, and no customer action is required. AIBMS has had a strong financial performance over the past number of years and is well-positioned for the future, AIB said on Friday. "Considering the evolution of the business and the strategic priorities of both AIB and Fiserv, AIB has reached an agreement to sell its minority shareholding of 49.9% to its JV partner Fiserv," it added. Upon completion, the transaction is expected to result in a circa 35 basis point positive impact on AIB's CET1 capital. In 2024, AIB recognised income of €34m relating to AIBMS in its income from equity accounted investments line. AIB said it will continue to work with AIBMS and Fiserv by referring AIB customers who require these services to the business. AIBMS will continue to operate as AIBMS, under a short-term brand agreement, allowing for an orderly exit of the AIB brand from the business. Colin Hunt, CEO of AIB, said 'Following a successful Joint Venture partnership, we believe Fiserv has the commitment, experience and innovative technical solutions to grow AIBMS and that our customers will continue to be well-served under their sole ownership. Katia Karpova, Head of the EMEA region at Fiserv, said 'We have enjoyed a strong partnership with AIB Group, as together we grew AIBMS into one of the leading acquirers in Europe, and I look forward to continuing to work closely with them to support our mutual clients. "Our focus will remain on delivering market-leading solutions to clients of all sizes across Ireland and the broader European market. We are particularly excited for the opportunity to accelerate the local penetration and growth of Clover, the world's smartest point-of-sale system and business management platform.' The transaction is expected to be completed later this year subject to all relevant regulatory approvals and customary closing conditions.
RTÉ News
2 days ago
- Business
- RTÉ News
AIB announces sale of minority shareholding in AIB Merchant Services
The AIB Group has reached agreement on the sale of its minority shareholding of 49.9% in AIB Merchant Services (AIBMS) to global fintech Fiserv. AIBMS was founded in 2007 as a Joint Venture between AIB and Fiserv. It is one of Ireland's largest payment solution providers and one of Europe's largest e-commerce acquirers, providing businesses with the ability to accept card payments from their customers. Chief Executive Officer of AIB, Colin Hunt, said: "Following a successful Joint Venture partnership, we believe Fiserv has the commitment, experience and innovative technical solutions to grow AIBMS and that our customers will continue to be well-served under their sole ownership." There will be no day-to-day change for AIBMS customers as a result of this announcement and no customer action is required. Upon completion, the transaction is expected to result in a circa 35bps positive impact on AIB's CET1 capital. In 2024, AIB recognised income of €34m relating to AIBMS in its income from equity accounted investments line. The Head of the EMEA region at Fiserv, Katia Karpova, said: "Our focus will remain on delivering market-leading solutions to clients of all sizes across Ireland and the broader European market. "We are particularly excited for the opportunity to accelerate the local penetration and growth of Clover, the world's smartest point-of-sale system and business management platform." The transaction is expected to be completed later this year subject to all relevant regulatory approvals and customary closing conditions.
Business Wire
2 days ago
- Business
- Business Wire
Fiserv to Acquire AIB Merchant Services
MILWAUKEE & DUBLIN--(BUSINESS WIRE)-- Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology, announced today that it has agreed to acquire the remaining 49.9% of AIB Merchant Services (AIBMS), its joint venture with AIB Group, in a transaction focused on driving continued growth in Ireland and the broader European market. Founded in 2007, AIBMS is one of Ireland's largest payment solution providers and one of Europe's largest e-commerce acquirers. AIBMS has been very successful to date and AIB Group will continue to work exclusively with AIBMS and Fiserv by referring customers who require merchant acquiring services. Financial terms of the transaction were not disclosed. 'We have enjoyed a strong partnership with AIB Group, as together we grew AIBMS into one of the leading acquirers in Europe, and I look forward to continuing to work closely with them to support our mutual clients,' said Katia Karpova, Head of the EMEA region at Fiserv. 'Our focus will remain on delivering market-leading solutions to clients of all sizes across Ireland and the broader European market. We are particularly excited for the opportunity to accelerate the local penetration and growth of Clover, the world's smartest point-of-sale system and business management platform.' 'Following a successful Joint Venture partnership, we believe Fiserv has the commitment, experience and innovative technical solutions to grow AIBMS and that our customers will continue to be well-served under their sole ownership,' said Colin Hunt, Chief Executive Officer of AIB. 'Recognising the strength of the AIB customer franchise, we are pleased to support our business customers by maintaining a close on-going relationship with Fiserv. AIB continues to implement its strategy at pace, with strong progress in each of our three focus areas: Customer First, Greening our Business and Operational Efficiency and Resilience. We wish AIBMS and Fiserv every success in the future.' The transaction is subject to regulatory approvals and closing conditions and is expected to close in the third quarter. About Fiserv Fiserv, Inc. (NYSE: FI), a Fortune 500 company, moves more than money. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and Clover®, the world's smartest point-of-sale system and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World's Most Admired Companies™. Visit and follow on social media for more information and the latest company news. About AIB AIB is a financial services group operating predominantly in Ireland and the United Kingdom. We provide a range of services to retail, business and corporate customers, with market-leading positions in key segments. AIB is the principal brand across all geographies. In Ireland, EBS is our challenger brand and Haven is our mortgage broker channel. For further information, please visit FI-G
