HSBC Malta to sell card acquiring business

RNS Number : 6609U

HSBC Holdings PLC

28 December 2011

 



28 December 2011

HSBC MALTA TO SELL CARD ACQUIRING BUSINESS

HSBC Bank Malta p.l.c. has agreed to sell its card acquiring business to HSBC Merchant Services Ltd (Global), a Maltese subsidiary of Global Payments Inc. Under the terms of the agreement, HSBC Bank Malta p.l.c. will transfer its existing card acquiring business to Global for a consideration of €11.075m (US$14.476m), pending regulatory approval.

The new business will be HSBC Bank Malta p.l.c.'s preferred strategic provider of card acquiring services. HSBC's card acquiring staff will become employees of Global.

HSBC Bank Malta p.l.c.'s chief executive officer, Alan Richards, said: "This transaction builds on our partnerships with Global Payments in the UK, Asia Pacific and North America combining HSBC's extensive business customer franchise and Global Payments' experience in transaction handling."

The sale to Global represents further progress in HSBC's execution of the strategy set out in May 2011.

Media enquiries to Franco Aloisio on [phone].

Notes to editors:

1. Global Payments

Global Payments Inc. (NYSE:GPN) is a leading provider of electronic transaction processing services for merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, Europe and the Asia-Pacific region. Global Payments, a Fortune 1000 company, offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. Visit www.globalpaymentsinc.com for more information about the company and its services.

2. The HSBC Group

HSBC Bank Malta p.l.c. is a member of the HSBC Group. HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,500 offices in over 80 countries and territories in Europe, the Asia-Pacific region, North and Latin America, and the Middle East and Africa. With assets of US$2,716bn at 30 September 2011, HSBC is one of the world's largest banking and financial services organisations.

 

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