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First Data Eyes Up AIB’s Card Processing Operations

Posted by Peter Brady on Mon 18th December 2006 at 06:00 AM, Filed in Credit News

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First Data eyes AIB’s credit cards

First Data is discussing the possibility of taking over Allied Irish Banks lucrative credit card processing operations. First Data is part of Western Union and AIB is considered to be Ireland’s biggest credit card provider.

Formal approaches are thought to have been made with a filled out proposal due over the next couple of months.

According to Times Online ”The bank would stand to make substantial savings from outsourcing the credit card operations which insiders say is highly capital intensive. The potential savings could run into “tens of millions” per annum, according to industry sources.”

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