First Data Sells 12.5% of JV with Wells Fargo, owns 40%

Wells Fargo takes majority stake in First Data merchant alliance JV

First Data has extended its merchant alliance joint venture with Wells Fargo for five years, the US payments processor revealed today in its full year earnings statement.

As part of the deal, First Data has sold 12.5% of the membership interests in the Wells Fargo Merchant Services venture to the bank for an undisclosed cash consideration. Wells now owns 60% of the company, with First Data holding 40%.

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