JPMorgan Chase, Bank of America, Wells Fargo, and PNC are holding preliminary talks to acquire Fiserv’s STAR and Accel debit networks.
This acquisition would provide these lenders with proprietary infrastructure to process transactions directly. The primary goal is to bypass Durbin Amendment federal caps on debit-card interchange fees.
This strategy follows Capital One’s acquisition of Discover, which demonstrated the strategic value of owning a payment network. While the move offers a competitive edge in the payments landscape, executives are weighing potential political and regulatory backlash.