Latest news with #KatiaKarpova
Yahoo
a day ago
- Business
- Yahoo
Fiserv enters deal to fully acquire AIB Merchant Services
Fintech company Fiserv has agreed to acquire the 49.9% interest in AIB Merchant Services (AIBMS) that it does not already hold. AIBMS is a joint venture between Fiserv and AIB Group and was formed in 2007. It operates as a payment solutions provider in Ireland and a e-commerce acquirer in Europe, facilitating businesses in accepting card payments. Following the acquisition, AIB Group will maintain a business relationship with AIBMS and Fiserv by continuing to refer clients in need of merchant acquiring services. AIBMS will operate under its existing brand 'under a short-term brand agreement', allowing for a phased withdrawal of the AIB brand from the business. Completion of the deal is due in the third quarter of the current year, contingent on regulatory approval and other closing conditions. Fiserv EMEA region head Katia Karpova 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.' AIB CEO Colin Hunt stated: '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. 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. This development follows Fiserv's agreement in April to acquire Brazilian fintech company Money Money Servicos Financeiros. "Fiserv enters deal to fully acquire AIB Merchant Services " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Fiserv buys out AIB Merchant Services
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Payments processing giant Fiserv has agreed to buy out the half of Dublin, Ireland-based AIB Merchant Services that it doesn't already own, a Fiserv news release said Friday. The move to purchase that 49.9% ownership stake is intended in part to increase the foothold for Fiserv's small business focused point-of-sale service Clover, in Europe, the release said. The transaction is "focused on driving continued growth in Ireland and the broader European market," the release said. AIB Merchant Services (AIBMS) was created in 2007 as part of a joint venture with the Irish financial services company AIB Group. Milwaukee-based Fiserv will now take full ownership of the unit. Analysts at the financial firm Robert W. Baird estimated the AIB joint venture's annual revenue at between $250 to $280 million, with profit of nearly $80 million, according to a Friday note to clients. AIB Merchant Services provides payment solutions and merchant acquiring services, the release said. The business has become one of the largest payments software providers in Ireland and one of the biggest e-commerce acquirers in Europe, the release asserted. AIB Group will continue to refer customers who require merchant acquiring services to Fiserv and AIBMS, according to the news release. "We are particularly excited for the opportunity to accelerate the local penetration and growth of Clover," Katia Karpova, head of the European region for Fiserv, said in the news release. The deal is subject to regulatory approval and is expected to close in the third quarter of this year, according to the release. Recommended Reading Fiserv reaffirms Clover revenue goal Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
FF News
4 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
4 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
4 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.
