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Bidvest Bank acquires FDRSA

By Bidvest Bank
10-08-2017
On 10 August 2017, Bidvest Bank announced its acquisition of First Data Resources South Africa (Pty) Ltd (FDRSA), the South African subsidiary of the First Data Corporation.

As a global leader in commerce-enabling technology, the First Data Corporation serves approximately six million business locations and 4 000 financial institutions in more than 100 countries. 

The acquisition of FDRSA, First Data’s South African merchant services business, aligns to Bidvest Bank’s diversification strategy to service broader markets and will complement its business banking offering. FDRSA’s name has been changed to Bidvest Merchant Services.

Steady growth over the last 10 years, combined with a prudent lending philosophy, recently saw Moody’s Investor Services upgrade Bidvest Bank’s long-term national scale rating to Aa2 from A1, an increase of two notches.

For more information, please contact Bidvest Merchant Services at 0860 111 441 or service@bidvestbankms.co.za