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Article: United States: Global Payments acquires United Card Service.
- Article from:
- TendersInfo
- Article date:
- May 8, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mamta03
Global Payments Inc.US-based Global Payments has completed the acquisition of Russia-based merchant acquirer United Card Service in a stock purchase transaction. Under the terms of the agreement, Global Payments will pay a total of $75m in cash to acquire United Card Service.
In December 2007, United Card Service (UCS) entered into a 10-year marketing alliance agreement with Rosbank. Under this agreement, Rosbank provides UCS with Visa and MasterCard bank sponsorship and agent bank processing referrals. In addition, UCS has agent bank processing referral agreements with over 40 other financial institutions in the Russian Federation. It ...