ATLANTA, Jan. 3 /PRNewswire/ -- Hour by hour, beginning at 5 a.m. ET on
December 31, First Data Corp. (NYSE: FDC), the world's largest electronic
commerce and payment services company, monitored its operations for the date
changeover from 24 Command Centers worldwide. After all time zones had rolled
into the New Year, First Data reported that all its operations -- in 176
countries around the globe -- successfully moved through the date change and
were up and running as normal in the new millennium.
"We've moved through the first days of the new millennium as we
anticipated without incident," said Charlie Fote, president and chief
operating officer of First Data Corp. Each of the First Data businesses
continue to report business as usual and have achieved all operational
milestones over the weekend.
"With many businesses opening Monday for the first time in the New Year,
we will continue to monitor our operations around the globe for Y2K issues,
and stand ready to deploy resources as necessary to ensure our seamless
operations," said Fote.
First Data helps move more than a trillion dollars each year --
authorizing check and card purchases, processing transactions, ensuring
merchants get paid and that transactions are posted accurately to cardholder
accounts. According to Fote, the Y2K efforts were about partnership,
thousands of people working hand in hand -- our employees, our clients and our
vendors. "The industry as a whole pulled together. And thanks to these
efforts, First Data clients and consumers around the world could enjoy the
millennium celebrations."
More than one-third of First Data's 33,000 employees were involved in Year
2000 preparation over the last three years. "Our many talented and dedicated
employees from Omaha, Nebraska, to Sydney, Australia, to London, England, --
deserve a special thank you. In addition, over 1,000 of our employees
company-wide dedicated their New Year's weekend to ensure a smooth rollover,"
said Fote.
"If there is a priority higher than number one, we've put Y2K there and
will continue that focus and commitment throughout 2000. When you touch
people's money, you have to hold yourself to a higher standard," Fote
reinforced. First Data reviewed more than 170 million lines of code for date
references as part of its Y2K preparation. The company invested more than
$200 million to prepare its systems for Y2K.
First Data's impact on global commerce spans the payment spectrum. The
company:
* Maintains data for 260 million credit, debit and other accounts on
behalf of 1,400 card issuing clients, banks and other institutions that
issue cards
* Processes and settles six billion cardholder transactions representing
$300 billion; five billion electronic payment transactions for nearly
two million merchant locations, representing more than $250 billion in
merchant dollar volume; and 61 electronic fund transfers
* Handles money transfers, quickly and securely, through its 78,000
Western Union agent locations in 176 countries
* Authorizes more than 2.2 billion check transactions totaling
$112 billion to more than 210,000 retail, financial institution and
other clients through its TeleCheck subsidiary
* Provides transaction processing services for more than 60,000 Internet
merchants
First Data subsidiary Western Union introduced the first consumer charge
card in 1914. First Data also was the first processor of both Visa (then
called BankAmericard) and MasterCard (then called Master Charge) bank-issued
credit cards in 1976.
"We've been a leader in electronic payments, enabling consumers and
businesses to pay for goods and services, since the turn of the century. Our
history is something to be proud of -- and we're looking forward to bringing
new payment solutions and innovations during the next 100 years," said Fote.
First Data Y2K Update
Region-by-Region at a Glance
* AUSTRALIA/ASIA PACIFIC
First Data's core processes, systems and facilities continued to
process without incident during the rollover weekend. Operations include
FDRA, which has the largest independent Electronic Funds Transfer network
in Australia and provides card processing services to the Asia-Pacific
region; Western Union; and TeleCheck.
* EUROPE
First Data subsidiary in Europe, FDR Limited, reported that all core
processes and systems were functioning as usual during the date
changeover. Serving as Europe's leading independent transaction card
processor, FDR Limited provides its clients' 24 million cardholders and
more than 450,000 merchant locations with full operational services.
Other First Data European operations, all reporting a smooth rollover,
include: FDRL - Germany; Western Union's regional operating office in
Brussels; and Negocios Informaticos, SA (NISA), the largest card issuer
and processor in the oil services industry.
* UNITED STATES
All operations and systems in the U.S. are reporting business as
usual. First Data U.S. operations include: TeleCheck, Western Union,
First Data Merchant Services, First Data Resources, First Data Solutions,
Teleservices, Call Interactive, and First Data's payment businesses.
* LATIN AMERICA/MEXICO
Operations in Latin America are operating smoothly after the date
change. First Data Latin American operations include FDR Latin America,
the leading third-party bankcard processor in Latin America and Mexico.
Orlandi Valuta, the First Data provider of electronic money transfers from
the U.S. to all 32 states in Mexico and Mexico City, reported that its
3,700 agency locations were conducting business as usual following the
millennium changeover.
This document is a Year 2000 Readiness Disclosure under federal law. The
content is provided for informational purposes only, may be updated without
any prior notice, and does not constitute a certification or warranty of any
kind.
SOURCE First Data Corp.
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Related links:
http://www.firstdatacorp.com
CONTACT:
media, Colleen Emigh, 770-857-7183, or
colleen.emigh@firstdatacorp.com , or Caroline Hoke, 770-857-7178,
or caroline.hoke@firstdatacorp.com , or investors, Barbara
Marxer, Investor Relations, 770-857-7118, or
Barbara.marxer@firstdatacorp.com , all of First Data Corp.
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