View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Company news
December 18, 2014updated 04 Apr 2017 4:04pm

Global Payments, BPI establish joint venture

Global Payments, a worldwide provider of payment solutions, and Bank of the Philippine Islands (BPI), a commercial bank in the Philippines, have formed a joint venture to provide merchant acquiring and payment services in the Philippines.

By Verdict Staff

Global Payments, a worldwide provider of payment solutions, and Bank of the Philippine Islands (BPI), a commercial bank in the Philippines, have formed a joint venture to provide merchant acquiring and payment services in the Philippines.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

The deal, which is expected to close late third quarter or early fourth quarter of 2015, will allow Global Payments to add significant merchants to its existing business in the Philippines besides endowing BPI with technological strengths enabling it to offer improved product and services to its customers.

Global Payments will put in its Philippines merchant acquiring assets and cash to the joint venture to obtain a majority interest in the partnership.

The 163-year old lender, BPI, will hold a 49% interest by contributing its existing merchant acquiring business to the joint venture.

Jeff Sloan, CEO of Global Payments, said: "This joint venture highlights our strategy to drive accelerating growth by expanding direct distribution in Asia."

Cezar Consing, president and CEO of BPI, remarked: "There is great growth potential in the payments industry and we look forward to continuing to build our capabilities to enhance the relevance and value we provide."

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International