U.S. Bancorp. is selling its third-party ATM and debit card business to Fiserv Inc. for $690 million, according to a release.
Specifically, U.S. Bank is unloading its business line, Elan Financial Services, that provides and issues debit cards and ATM machines for other banks. U.S. Bank will continue to provide and issue its own debit cards and ATM machines for its customers. The deal is expected to close in the fourth quarter of this year.
