Bank of America is looking to increase its presence in the lucrative business of connecting merchants and their customers—which could mean ending a venture with First Data
Bank of America Corp. is considering dissolving the huge payment-processing joint venture it has with First Data Corp. and developing its own business to move money between consumers and merchants, according to people familiar with the matter.
Like its rivals, Bank of America is rushing to meet demand from consumers and businesses for modern money-moving technology, which promises a steady stream of fees with each transfer or swipe. Leaving the joint-venture would give the bank more control of its business that focuses on...
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