Fiserv is set to acquire full ownership of AIB Merchant Services (AIBMS), one of Ireland’s largest payment solution providers and a top e-commerce acquirer in Europe. Founded in 2007 as a joint venture between Allied Irish Banks (AIB) and Fiserv, AIBMS enables businesses to accept card payments across a broad range of markets.
Under the agreement, AIB will sell its minority stake in AIBMS to Fiserv, with the deal expected to close later this year, subject to regulatory approvals and standard conditions. The transaction is projected to deliver a 35 basis point boost to AIB’s CET1 capital, and the bank has already recorded €34 million in income from its AIBMS stake for 2024.
There will be no immediate changes for AIBMS customers, who are not required to take any action. The AIBMS brand will continue under a short-term licensing arrangement to allow for a smooth transition.
AIB will maintain a referral relationship with Fiserv, continuing to direct business customers to AIBMS for payment services. AIB CEO Colin Hunt emphasized Fiserv’s strength and innovation in growing AIBMS and expressed confidence in continued customer service under Fiserv’s sole leadership.
Fiserv’s Katia Karpova highlighted the success of the partnership and the company’s commitment to delivering advanced solutions across Europe. She also pointed to the opportunity for expanding the Clover platform — a smart POS and business management system — as part of the company’s growth strategy.