Fiserv (FISV) stock rose Tuesday on a report that the financial services company could sell its debit card payment processing network to a group of banks.
The banks interested in acquiring Fiserv's debit network include JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC) and PNC Financial Services Group (PNC), the Wall Street Journal reported.
At William Blair, ***** yst Andrew Jeffrey said a deal is unlikely. "A deal seems unlikely given regulatory and likely large merchant pushback," he said in a report. "We also note that by aiding large banks, Fiserv could alienate its community bank and credit union customer base, beneficiaries of Durbin debit regulations."
Fiserv provides payments and financial technology for banking and commerce, billing and point-of-sale transactions. The chief executive of Fiserv, Mike Lyons, recently resigned, sparking a sell-off. Takis Georgakopoulos, who had served as chief operating officer and copresident, was named CEO.
At Evercore ISI, ***** yst Adam Frisch also doubts a debit network deal will get done with the banks.
The banks interested in acquiring Fiserv's debit network include JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC) and PNC Financial Services Group (PNC), the Wall Street Journal reported.
At William Blair, ***** yst Andrew Jeffrey said a deal is unlikely. "A deal seems unlikely given regulatory and likely large merchant pushback," he said in a report. "We also note that by aiding large banks, Fiserv could alienate its community bank and credit union customer base, beneficiaries of Durbin debit regulations."
Fiserv provides payments and financial technology for banking and commerce, billing and point-of-sale transactions. The chief executive of Fiserv, Mike Lyons, recently resigned, sparking a sell-off. Takis Georgakopoulos, who had served as chief operating officer and copresident, was named CEO.
At Evercore ISI, ***** yst Adam Frisch also doubts a debit network deal will get done with the banks.
3 months ago
