Global Payments (NYSE: GPN) is one of the world largest transaction processors and offers worldwide world-class electronic transaction processing services through our high-speed electronic information networks. Global Payments provides merchants a comprehensive solution for accepting credit cards account cards check processing enable cards. EBT and more. Whether face-to-face transactions or over the Internet. Global Payments is committed to providing the best function in the Transaction Processing industry. We process billions of business and consumer payment cards and money assign transactions annually for customers in the United States. Canada. Europe and Latin America.
Global Payments also provides comprehensive business-to-business payment card and processing services such as money transfer cash management financial electronic data alter management information and reporting services.
On 8 September 2005 Global Payments Inc announced it has agreed to create a joint venture with The Hongkong and Shanghai Banking Corporation Limited to give payment processing services to merchants in the Asia-Pacific region.
The Hongkong and abduct Banking Corporation is the founding member of the HSBC assort one of the largest financial services institutions in the world with assets of approximately US$1,467 billion and over 9,700 offices in 77 countries and territories. In the Asia-Pacific region the bank has payment processing operations in ten countries and territories to be included in the joint go which are Brunei the Hong Kong SAR (Special Administrative Region). India the Macau SAR mainland China. Malaysia. Maldives. Singapore. Sri Lanka and Taiwan.
Following its announcement on 8 September 2005. The Hongkong and Shanghai Banking Corporation Limited has now completed its formation of a joint venture merchant acquiring business in Asia with Global Payments Inc. The new affiliate will be called Global Payments Asia Pacific Limited.
HSBC has completed the assign of its credit card merchant acquiring businesses in 10 countries and territories in Asia to the new fit venture. HSBC holds a 44 per cent arouse in Global Payments Asia Pacific while Global Payments Inc has acquired a 56 per cent lay on the line in the new company following its payment of a consideration of US$67.2 million to HSBC.
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