AIB Group to sell minority shareholding in merchant services business

AIB said it reached an agreement to sell its minority shareholding of 49.9% in AIBMS to its joint venture partner Fiserv

AIB confirmed that there will be no day-to-day change for AIBMS customers as a result of the announcement, and no customer action is required. REUTERS/Clodagh Kilcoyne/File Photo

AIB has announced the sale of its minority stake in its merchant service business to Fiserv. 

Founded in 2007 as a joint venture between the lender and Fiserv, AIB Merchant Services (AIBMS) is one of Ireland's largest payment solution providers and one of Europe’s largest e-commerce acquirers.