New Delhi: Country's largest private sector
lender ICICI Bank has sold its points of sale terminals that
accept the debit and credit card payment to First Data
Corporation for USD 80 million (about Rs 400 crore).
"First Data Corp has bought an 81 per cent stake in the
POS terminal business and the total deal value is about USD 80
million," according to sources in the bank.
The bank has set up a new company ICICI Merchant Services
Pvt Ltd where FDC would hold 81 per cent and ICICI Bank 19 per
cent.
ICICI Bank had yesterday through a public announcement
informed the merchants who use ICICI Bank terminals that the
POS terminals have been transferred to ICICI Merchant
Services.
"FDC would bring in the global expertise while ICICI
would provide the customer base. This would help in creating
value for the POS terminal business," sources said.
Currently ICICI Bank has over 1.50 lakh active POS
terminals. This is the first time that an Indian bank has sold
its POS terminal business.
First Data is a leading provider of electronic commerce
and payment processing services to financial institutions,
governments and merchants in more than 50 markets across the
globe.
PTI
First Published: Thursday, December 24, 2009, 20:52