A flexible processing platform and a global business partner have helped Global Payments Inc. expand overseas. The Atlanta-based transaction processor and United Kingdom-based HSBC Bank Plc announced earlier this month a joint venture to provide payment-processing services to merchants in the United Kingdom and to Internet merchants (CardLine, 6/17). "They have one platform that can be flexible and adaptable enough so that it can be used in any country, working in any market," Adil Moussa, an analyst with Boston-based Aite Group LLC, says of Global Payments. "HSBC has an international presence, so [Global Payments] can really ride HSBC's rails to access in other markets [around the world]." Global Payments will pay HSBC $439 million in cash to acquire a 51% majority ownership in the joint venture, which will operate under the name HSBC Merchant Services. In 2005, Global Payments and HSBC formed a joint venture involving approximately 40,000 merchant contracts in Brunei, Hong Kong, India, Macau, China, Malaysia, Maldives, Singapore, Sri Lanka and Taiwan (CardLine, 9/13/05).

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