Article: United States: Global Payments to buy 51 percent of JV with HSBC unit.

Byline: yunus05

Global Payments Inc., a provider of electronic payment processing services will create a joint venture with HSBC Bank PLC. The new venture, called HSBC Merchant Services, will provide payment processing services to merchants in the United Kingdom and worldwide on the Internet.

Under the agreement, Global Payments will pay HSBC USD439 million in cash to acquire a 51 percent stake in the new venture. HSBC will control the ...

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