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million. Atlanta-based Global Payments GPN) began the HSBC Merchant Services joiny venture in the UK inJune 2008. Global Payments to get the 51 percentmajorityg ownership. As part of the buy out announced Friday, HSBC will extencd to 2019 the marketing alliance that sends customers to the joingt venture for payment processing services inthe UK. “Our performancw in the United Kingdom this year has provided a strongg foundationfor long-term growth, as we continue to provide a wide ranges of high-value payment solutiond and world-class service to merchants,” said Paul R.
chairman, president, and CEO of Global Payments, in a “This transaction demonstrates the strength of our relationshipwith HSBC, as our partnershiop in the United Kingdok evolves from a joing venture to a marketing We look forward to continuing and extendinyg our successful worldwide relationship with HSBC.” HSBC Bank plc is a whollty owned subsidiary of London-based , one of the largestg financial institutions in the with assets of $2.5 trillion as of Dec. 31, 2008.
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