Fiserv-Wells Fargo Merchant Acquiring Joint Venture to Expire in April

Fiserv disclosed Wednesday (Sept. 25) that it expects its merchant acquiring joint venture with Wells Fargo to expire April 1, 2025. The joint venture, Wells Fargo Merchant Services (WFMS), is owned 40% by a Fiserv wholly owned subsidiary and 60% by Wells Fargo Bank, National Association, Fiserv said in a filing with the Securities and Exchange Commission. Fiserv acquired its stake in WFMS through its 2019 merger with First Data Corp., according to the filing. The company expects to record a non-cash impair ...