Fiserv closes acquisition of joint venture AIB Merchant Services

(Alliance News) - Fiserv Inc on Friday said it has taken full ownership of AIB Merchant Services, its joint venture with Dublin-based commercial bank AIB Group PLC.

The US financial technology and payment services company has acquired AIB's 49.9% stake in AIBMS for an undisclosed amount.

Fiserv expects the purchase to drive "growth in the broader European market," including the expansion of its small business point-of-sales system Clover.

The Milwaukee, Wisconsin-based firm noted that AIBMS, which was set up in 2007 as a credit card and payment solutions platform, is currently "one of Europe's largest e-commerce acquirers".

As part of the acquisition, AIB will continue to refer businesses exclusively to Fiserv's card acquiring services. Back in June, AIB Chief Executive Colin Hunt said of Fiserv: "Our customers will continue to be well-served under their sole ownership."

The Irish bank estimated that the disposal will positively impact its CET1 capital ratio by 35 basis points. AIB recognised income of EUR34 million from AIBMS in 2024.

AIB shares traded up 1.0% at 626.00 pence on Friday afternoon in London, while Fiserv stock rose 0.2% to USD136.48 during premarket dealings in New York.

By Holly Munks, Alliance News reporter

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