Bank Consortium Explores $15 Billion Acquisition of Fiserv’s Debit Networks, Raising Concerns for Visa and Mastercard
A consortium including JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), and PNC is exploring a potential $15 billion acquisition of Fiserv's STAR and Accel debit networks. This move could allow banks to bypass interchange fees, posing structural threats to payment processors like Visa (V) and Mastercard (MA). The deal may also help Fiserv refocus on its Clover growth platform.
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Topics: Bank Consortium Debit Networks Fiserv Mastercard Payment Processors Visa