Global Payments Asia-Pacific Limited launched
Global Payments Inc. has finalized its $67.2 million joint venture with The Hongkong and Shanghai Banking Corp. to provide payment processing services to merchants in the Asia-Pacific region.
Atlanta-based Global Payments (NYSE: GPN) acquired a 56 percent ownership interest in the joint venture. HSBC controls the remaining 44 percent and contributed its existing Asia-Pacific merchant acquiring channel in 10 countries and territories to the joint venture. The joint venture, Global Payments Asia-Pacific Limited, will provide merchant acquiring services to more than 45,000 merchant outlets across Brunei, Hong Kong, India, Macau, mainland China, Malaysia, Maldives, Singapore, Sri Lanka and Taiwan.
The Hongkong and Shanghai Banking Corp. (HSBC) and Global Payments also have a 10-year marketing alliance where the bank will refer its customers in the 10 Asia-Pacific countries and territories to the joint venture for merchant payment processing.
More : atlanta.bizjournals.com
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