Fiserv has announced its intention to purchase the remaining 49.9% share of AIB Merchant Services (AIBMS) from AIB Group, a move aimed at fostering growth in Ireland and the wider European market.
Established in 2007, AIBMS is a payment solutions provider in Ireland and is said to rank among Europe’s top e-commerce acquirers.
Despite the change in ownership, AIB Group will maintain its collaboration with AIBMS and Fiserv, continuing to refer customers needing merchant acquiring services. The financial specifics of the deal have not been disclosed.
AIBMS facilitates businesses in accepting card payments from their customers across Ireland and Europe. The acquisition will not alter daily operations for existing AIBMS customers, and no action is required on their part.
Fiserv EMEA region head Katia Karpova said: “We have enjoyed a strong partnership with AIB Group, as together we grew AIBMS into one of the leading acquirers in Europe, and I look forward to continuing to work closely with them to support our mutual clients.
“Our focus will remain on delivering market-leading solutions to clients of all sizes across Ireland and the broader European market. We are particularly excited for the opportunity to accelerate the local penetration and growth of Clover, the world’s smartest point-of-sale system and business management platform.”
Over recent years, AIBMS is said to have recorded robust financial performance, aligning with AIB’s strategic priorities. Consequently, AIB has agreed to sell its minority stake to Fiserv.
The transaction is anticipated to enhance AIB’s CET1 capital by approximately 35 basis points upon completion. In 2024, AIB recognised €34m in income related to AIBMS within its income from equity-accounted investments.
AIBMS will continue operating under its existing name through a short-term brand agreement to facilitate a smooth transition away from the AIB brand.
AIB CEO Colin Hunt said: “Following a successful joint venture partnership, we believe Fiserv has the commitment, experience and innovative technical solutions to grow AIBMS and that our customers will continue to be well-served under their sole ownership.
“Recognising the strength of the AIB customer franchise, we are pleased to support our business customers by maintaining a close on-going relationship with Fiserv.”
The completion of this transaction is pending regulatory approvals and other closing conditions and is expected to occur during Q3 2025.
