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BA Merchant Services to be Principal Merchant Servicer for BankAmerica and NationsBank Merger

Strategic Insights

— 1 min read

As part of the forthcoming merger between BankAmerica Corporation and NationsBank Corporation, BA Merchant Services, Inc. (BAMS) will become the primary merchant servicer for the combined organization. Patrick Phillips, head of Card Services for the combined entity, will oversee the relationship with BAMS. The merger is contingent upon regulatory and shareholder approval. NationsBank will renegotiate its existing contract with First Data Merchant Services to ensure a single provider of merchant services for the merged entity.

Key Takeaways:

  • The merger between BankAmerica and NationsBank will result in BA Merchant Services, Inc. becoming the principal merchant servicer for the combined organization.
  • Patrick Phillips will manage the relationship with BAMS, overseeing the expansion of merchant services for the merged entity.
  • NationsBank will renegotiate its contract with First Data Merchant Services to ensure a single provider of merchant services.
  • The outcome of the renegotiation and its impact on BAMS and First Data Merchant Services are yet to be determined.
  • BA Merchant Services, Inc. is a subsidiary of Bank of America NT&SA and provides electronic payment processing and related products to merchants in the US and Asia.
  • The merger is subject to regulatory and shareholder approval and is pending completion.

Statistics:

  • BA Merchant Services, Inc. was incorporated in October, 1996.
  • The company provides merchant services to the US and certain Asian countries.
  • NationsBank's existing relationship with First Data Merchant Services will be renegotiated to ensure a single provider of merchant services for the merged entity.

Sources:

  • BA Merchant Services, Inc.
  • BankAmerica Corporation
  • NationsBank Corporation
  • SOURCE BA Merchant Services, Inc.
  • CONTACT: Betty Riess of BA Merchant Services, Inc., 415-622-6397; or Jamie Pickrell of NationsBank, 704-386-0116; Investors: Vince Barella of BA Merchant Services, Inc., 415-241-7732/
  • Web site: http://www.bankamerica.com/

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