Global Payments Inc. announced
today that it has closed the transaction with National Bank of Canada
announced on June 27, 2001. Global has acquired the merchant services
business of National Bank of Canada and has formed a ten-year marketing
alliance to offer MasterCard credit and debit card payment products and
services to National Bank’s customers. This transaction makes Global Payments
the largest publicly-traded, independent MasterCard and Visa acquirer in
Canada and will give Global Payments the capability to provide Canadian
businesses one source for all of their Visa, MasterCard, debit and other
payment processing requirements.
The combined operations of Global and National Bank’s Canadian business
include processing 2.7 billion transactions annually from approximately
1,000,000 merchant locations in North America.
“Canadian merchants now have enhanced convenience and simplicity for all
of their credit and debit processing needs through Global Payments new
expanded services,” said Global Payments’ President and CEO, Paul R. Garcia.
“This transaction also marks another key milestone in our Canadian growth
strategy targeted towards improving products and services resulting in
enhanced revenue and earnings growth opportunities.”
Global Payments Inc. is a leading provider of electronic transaction
processing services to merchants, Independent Sales Organizations (ISOs),
financial institutions, government agencies and multi-national corporations.
Global Payments offers a comprehensive line of payment solutions, including
credit and debit cards, business-to-business purchasing cards, gift cards,
check guarantee, check verification and recovery, terminal management and
funds transfer services.