Financial services giant, VISA, has acquired a minority stake in UK-based Global Processing Services (GPS). The terms of the deal are yet to be disclosed. No existing shareholders have exited as of yet.
VISA and payments issuer processor, GPS, have collaborated since 2013. GPS was even selected as VISA’s preferred issuer for the Asia-Pacific region.
GPS supports digital banks, fintech firms and e-wallet providers. It enables the brands to provide a more personalized user experience to cardholders.
GPS will channel the funds towards expansion, and building teams in the regions of Asia Pacific, Middle East and North Africa.
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