HSBC finalises payment processing JV

HSBC and Global Payments join forces to create merchant acquiring business in Asia.

HSBC has completed the formation of a joint venture with Atlanta-based Global Payments Inc, which will serve as a merchant acquiring business in Asia and will build on its strong credit card presence in the region.

The new entity will be known as Global Payments Asia-Pacific and will be headquartered in Hong Kong with a headcount of approximately 120 employees.

It will be 44% owned by HSBC, while Global Payments will hold a 56% interest for which it paid...

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