Global Payments, a US-based provider of payment technology services, and Bank of the Philippine Islands (BPI) have formed a joint venture, which will provide merchant acquiring and payment services in the Philippines.
Under the terms of the accord, Global Payments owns a 51% majority stake in the joint venture, while BPI holds the remaining 49% interest.
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BPI, which serves 6.8 million customers through its network of over 800 branches, has been operating merchant acquiring business in Philippines for more than 27 years.
Global Payments provides payment solutions for merchants, value added resellers, enterprise software providers, financial institutions, government agencies, multi-national corporations and sales organizations across North America, Brazil, Europe and the Asia-Pacific region.
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