At least one ratings agency has approved a move by private equity firm KKR & Co. and other investors to inject another $300 million into First Data Corp., a major payments processing firm that works with both credit unions and banks.
KKR and other investors took the payments processor private for roughly $30 billion in 2007, according to press reports at the time.
Atlanta-based First Data has never said exactly how many financial institutions process card payments with the firm, but industry experts estimate between 500 and 1,000 credit unions are First Data clients.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
