HSBC finalises payment processing JV

HSBC has completed the formation of a joint venture with Atlanta-based Global Payments Inc, which will serve as a merchant acquiring business in Asia and will build on its strong credit card presence in the region. The new entity will be known as Global Payments Asia-Pacific and will be headquartered in Hong Kong with a headcount of approximately 120 employees. It will be 44% owned by HSBC, while Global Payments will hold a 56% interest for which it paid HSBC $67.2 million. The respec…