First Data has joined AIB in its bid for Payzone, which is currently valued at more than EUR 100 million, according to The Irish Times.
As the publication continues, the negotiations follow on from the bank’s abortive talks in 2018 to acquire the Irish unit of Investec.
AIB has operated a debit and credit cards transactions joint venture called First Merchant Processing (Ireland) Limited (FMBI), trading as AIB Merchant Services, since 2007 with First Data. The company is a provider of card acceptance services across retail outlets, supermarkets, and fuel forecourts.
It is unclear if the bid for Payzone has been mounted under the existing FMBI joint venture, or a separate vehicle. First Data is the minority partner to AIB in the Payzone process, according to The Irish Times.
Payzone has more than 7,000 retail agents in Ireland. It processes mobile phone and travel card top-ups, debit and credit card transactions, motorway toll and local property tax payments, as well as pre-paid utility and parcel collection services.
For more information about First Data, please check out a detailed profile of this company in our dedicated, industry-specific online company database.