ATLANTA & MANILA, Philippines--(BUSINESS WIRE)--Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, announced today that it has completed the formation of a joint venture with Bank of the Philippine Islands (BPI), a leading commercial bank in the Philippines.
BPI is a leading Philippine provider of financial services with more than 800 branches. The bank has operated a merchant acquiring business in the Philippines for over 27 years.
Under the terms of the agreement, Global Payments holds a 51 percent majority interest in the joint venture, and BPI holds the remaining 49 percent.
About Global Payments
Global Payments Inc. (NYSE: GPN) is a leading worldwide provider of payment technology services that delivers innovative solutions driven by customer needs globally. Our partnerships, technologies and employee expertise enable us to provide a broad range of products and services that allow our customers to accept all payment types across a variety of distribution channels in many markets around the world.
Headquartered in Atlanta, Georgia with more than 4,400 employees worldwide, Global Payments is a Fortune 1000 Company with merchants and partners in 29 countries throughout North America, Europe, the Asia-Pacific region and Brazil. For more information about Global Payments, our Service. Driven. Commerce brand and our technologies, please visit www.globalpaymentsinc.com.
With 163 years of experience in the local banking industry, BPI is one of the largest universal banks in the Philippines today. It offers a wide spectrum of financial services to both retail customers and corporate clients through the bank’s extensive distribution network locally and abroad. BPI serves 6.8 million customers through its network of more than 800 branches, over 2,500 Automated Teller Machines (ATMs) nationwide and close to 30,000 Point-of-Sale (POS) terminals. Additional information is available at www.bpiexpressonline.com.ph.