First Data takes majority shareholding in Omnipay
30 July 2002 | 5499 views | 0
First Data Corp. has secured a majority interest in Omnipay, an international payment processor based in Dublin, Ireland. Financial terms were not disclosed.
The majority interest includes a new equity investment First Data has made in Omnipay in addition to a prior, indirect investment through Fexco, a financial services provider which previously served as the majority stakeholder. Fexco will continue to hold a significant minority equity stake in the company.
Pamela Patsley, president of First Data International, states: "We look forward to aggressively expanding the processing scale and capability of the Omnipay system as we broaden our international client base."
Last year, First Data announced partnerships with Omnipay and Fexco to develop a multi-currency end-to-end transaction and settlement infrastructure that allows acquirers and merchants to authorise, settle and receive funding for transactions in any of the major world currencies.
Fexco also works with First Data subsidiary Western Union to offer money transfer services in Ireland, the United Kingdom, Spain, Malta and Gibraltar.