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Its way, way more complex then that. Please see my answer above. Square's competition is stripe and paypal... And all the new "mobile" payment platforms coming

• narrowrail 11y ago
  All of the companies I mentioned are not subsidiaries, they are publicly traded, independent companies. A few of them were spun out of banks at one time (e.g. Vantiv came from Fifth Third). In your other comment you say that First Data is part of Bank of America, which is completely wrong. First Data just started trading today under the ticker NYSE:FDC where they were taken private by KKR in 2007. Prior to that they were spun out of AMEX back in 1992.[0] >Its way, way more complex then that Please don't do this. I worked in the industry for 5 years and have quite a firm grasp of it (it's only been 8 years since, and the industry hasn't changed much). [0]https://en.wikipedia.org/wiki/First_Data https://en.wikipedia.org/wiki/First_Data
  • bardworx 11y ago
    Looking into it further, I think I made a mistake. It was my belief that PaymentTech and BAMS are corps but instead they are "alliances". First-Data owns x% of the BAMS alliance which is different then BAMS of BoA fame. Also, I had no idea that FirstData went public, in my dealings with them, I always delt with Bank of America Merchant Services, which acted as if First Data was their subsidiary. This opinion came from reading our BAMS contract. Coming from the merchant's side of things, and dealing with this for over a decade, it "feels" more complicated. However, considering you were on the inside, your first-person version is more accurate. Hope you didn't take offense.