American Express joins the fight for RBS WorldPay payment processing business

As it became known American Express has entered struggle battle for the Royal Bank of Scotland's WorldPay payment processing business, teaming up with Permira, UK private equity company.

About six bidders are still struggling for the business, which RBS is being forced to sell by the European competition authorities as a condition for joining the UK government's asset protection scheme.

Atos Origin, the French IT giant has also joined the fray for the £2.5 billion rated unit, partnering PE firms CVC Capital Partners and Welsh Carson Anderson & Stowe.

Moneris Solutions, Canadian card payment processor, is in the running while four private equity bids - from CVC, TPG, Warburg Pincus and a joint effort by Advent International and Bain Capital are also on the table.

Besides, RBS is indicating that PE firms should team up with partners that have experience in this field.

Second-round bids is expected to be carried out by 31 May.