JPMorgan and BofA explore acquisition of Fiserv debit network - WSJ

This potential deal could change how you pay for payment processing and how your customers' transactions are routed. JPMorgan Chase and Bank of America are in talks to buy Fiserv’s debit network, known as Accel. For retailers, this is about the 'rails' that move money from a customer’s bank account to your business. If the biggest banks in the country own the network, they gain more control over transaction fees and the technology behind debit swipes. Currently, Fiserv is a third-party processor. Moving this network to major banks could lead to tighter integration between your merchant account and the customer’s bank. While this might improve transaction speed, it also raises questions about competition. With fewer independent networks, merchants may have less leverage to negotiate lower interchange fees. For businesses offering point-of-sale financing or debit-based installments, this shift could eventually impact how those payments are authorized and cleared. Keep an eye on this if you use Fiserv or Bank of America for your merchant services, as your fee structure or hardware requirements could change if the deal closes.

Source: Finextra — Lending

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