Payments News

Eye on Acquiring: An End to the BAMS Joint Venture; Global Payments Updates TSYS Merger

Jul 30, 2019

The end of Bank of America Merchant Services, a merchant-acquiring joint venture between Bank of America Corp. and First Data Corp., is at hand. 

Charlotte, N.C.-based BofA said Monday it will pursue an independent merchant-acquiring strategy beginning in June 2020, though First Data, which that same day became part of Fiserv Inc., will continue as an “important service provider supporting Bank of America’s global payment solutions.” Bank of America Merchant Services says it processes 17.3 billion transactions annually at more than 700,000 merchant locations.

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