X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DENVER – First Data Corporation, an e-commerce and payment service provider, has acquired majority interest in NYCE Corp., a leading electronic payments organization and the owner of the NYCE electronic funds transfer network. With the 60-65% equity in NYCE Corp., First Data will build on its current debit business. Once completed First Data will be connected to over one billion online debit point-of-sale transactions annually. NYCE, which services 48 million cardholders through 44,000 ATMs and 270,000 point-of-sale locations, will continue as a separate entity. The transaction is expected to close during the second half of 2001. Four of the current NYCE shareholders- Citibank, FleetBoston Financial, HSBC Bank, Inc and J.P. Morgan Chase & Co. -will continue as equity partners. “This transaction will accelerate our opportunities in the emerging but fast -growing online, POS debit market,” said First Data Corp President/COO Charles T. Fote. Dennis F. Lynch will remain President/CEO of NYCE.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.