TSYS, First National Bank of Omaha establish merchant acquiring joint venture

Tuesday 2 March 2010 08:14 CET | News

Payment services provider TSYS has signed a joint venture agreement with First National Bank of Omaha (FNBO) to set up a new company, dubbed First National Merchant Solutions (FNMS).

Under terms of the agreement, TSYS is to acquire 51 percent ownership of FNMS for nearly USD 150.5 million, while FNBO will control the remaining 49 percent. The transaction is expected to close 1 April 2010. FNMS offers transaction processing, merchant support and underwriting, business and value-added services, as well as Visa- and MasterCard-branded prepaid cards for businesses.

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Keywords: TSYS, First National Bank of Omaha, joint venture, merchant acquiring, First National Merchant Solutions
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce