Payments News

Now That First Data Is Part of Fiserv, Strategies Emerge to Reinforce Banks’ Role in Payments

Jul 25, 2019

In what may be the biggest anticlimax in their careers, employees at First Data Corp. will walk into their offices Monday morning as employees of Fiserv Inc. And if Fiserv chief executive Jeffery Yabuki’s ambitions prove fruitful, the combined company will play a leading role in fending off nonbanks like PayPal Holdings Inc. and fencing payments within the banking universe.

The $22-billion, all-stock deal, which the two companies announced in January, ended up closing just about on schedule, despite a U.S. Department of Justice inquiry that emerged in April. “We received all our approvals without conditions,” Yabuki told stock analysts Thursday afternoon. “The entire organization is ready to kick off the new Fiserv.”

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