- Deal Creates Independent Transaction Processing Company in Italian Market -
DENVER, Jan. 12 /PRNewswire-FirstCall/ -- First Data Corp. (NYSE: FDC), a
global leader in electronic commerce and payment services, today announced it
has completed the acquisition of the credit card processing business unit of
FinecoBank S.p.A., part of Capitalia Group.
This transaction includes the acquisition of the processing facilities
including software, employees and other processing capabilities used in the
servicing of Fineco's cardholder accounts, which Fineco will continue to own
and manage.
"A strategic match for First Data, the acquisition of FinecoBank's credit
card processing unit expands and reinforces our operations in Italy and
underscores our continued focus on growth in Europe," said Pam Patsley,
president of First Data International. "First Data is committed to offering
efficient and reliable payments processing services around the globe."
"We are sure that the choice to outsource activities related to credit card
processing, keeping the issuing within FinecoBank, is the best possible
solution. Selling this activity to First Data, a world leader in electronic
commerce and payment services, provides our customers with service excellence
in an increasingly competitive market," said Alessandro Foti, chief executive
officer (CEO), FinecoBank.
This acquisition follows on from the establishment of a First Data
processing centre in Milan. Together, the First Data Italian operations and
FinecoBank's credit card processing unit will process more than 500,000 credit
cards in Italy.
"We are pleased to add the strength and capabilities of the FinecoBank
credit card processing unit to First Data in Italy as this is a key growth
area for our business in Europe," said David Yates, president, First Data
International, Europe, Middle East & Africa Region. "This acquisition creates
a new force in the Italian market, and provides First Data with the channel to
deploy a full range of services to Italy's financial institutions and
retailers."
This acquisition further strengthens First Data's business across the
region by combining First Data's comprehensive transaction processing
solution, VisionPLUS(R), which is used by many of the largest banks and retail
card issuers in the world, with local skill and knowledge.
Financial terms of the transaction were not disclosed.
About First Data
First Data Corp. (NYSE: FDC), with corporate headquarters in Denver,
Colorado (U.S.A.), helps power the global economy. As a worldwide leader in
electronic commerce and payment services, First Data provides credit, debit,
smart card and stored-value card issuing and merchant transaction processing
services; Internet commerce solutions; and cheque processing and verification
services to financial institutions in more than 70 countries on six
continents. Its Western Union and Orlandi Valuta money transfer networks
include approximately 202,000 agent locations in more than 195 countries and
territories. With more than 30,000 employees worldwide, First Data has
offices throughout Europe, Asia Pacific, Africa, Latin America and North
America. For more information, please visit the company's Web site at
http://www.firstdata.com.
About FinecoBank
Established in 1999, FinecoBank (Capitalia Group) is now the top
direct/online bank in Italy with more than 420,000 customers, 8.5 million
executed orders at the end of 2003, and a market share of 30% online orders.
FinecoBank offers a complete range of innovative and hi tech services:
banking, credit, financial planning and mortgages. FinecoBank's mission is to
combine best value, technology and brand to deliver tangible convenience to
its clients.
Media Relations Contacts
First Data:
Mary Walker
First Data
Tel: +1 770 857 7188
mary.walker@firstdatacorp.com
FinecoBank:
Paola Spolini
FinecoBank
Tel: 02 - 28872256
p.spolini@fineco.it
MS&L PR for First Data:
Emanuela Locci
MS&L Mavellia Bellodi
Ph: +39 02 77336.248
emanuela.locci@mslitalia.com
FDC-1
SOURCE First Data Corp.
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Related links:
http://www.firstdata.com
CONTACT:
Mary Walker of First Data, +1-770-857-7188,
mary.walker@firstdatacorp.com; or Paola Spolini of FinecoBank, 02
- 28872256, p.spolini@fineco.it; or Emanuela Locci of MS&L
Mavellia Bellodi, +39 02 77336.248, emanuela.locci@mslitalia.com,
for First Data Corp.
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