Worldwide Payments Leader Signs China's First Full Bankcard Outsourcing
Contract
SHANGHAI, PRC, Aug. 12 /PRNewswire-FirstCall/ -- First Data Corp.
(NYSE: FDC), a global leader in electronic payment technologies and services,
today announced it has signed China's first full bankcard outsourcing
agreement with China Everbright Bank. Under the multi-year agreement, First
Data will provide credit card and merchant processing services to China
Everbright, China's first shareholder-owned commercial bank with assets of
more than $39.8 billion (U.S.).
China's bankcard market has evolved rapidly since the first bankcard was
issued in 1985. Today, there are more than 560 million bankcards, mostly
debit, in China. The market is expected to grow as consumer adoption of
electronic payments and general purpose consumer loans increases and as the
2008 Olympics in Beijing draws closer. China Everbright Bank already has
issued more than 10 million debit cards and plans to launch a credit card
product later this year.
"We selected First Data because of First Data's solid experience in
providing best-in-class payments services and the value this provides to its
customers," said Shan Jian-Bao, executive vice president, at China Everbright
Bank. "Its wide range of payment expertise will be valuable to us as we
launch our new credit card portfolio."
The bank has an extensive branch network in 23 of China's provinces and 36
cities, including Shanghai, which is home to First Data's operations in north
Asia. According to this first-of-its-kind agreement in China, First Data will
provide business consulting and transaction processing services, including
authorizations, account management, backroom services, and merchant account
processing. First Data's VisionPLUS(R) software will be used as the
processing platform.
"We are honored to have been selected as the partner of choice by China
Everbright Bank. We have an exceptional opportunity to help the bank achieve
business success by applying First Data's expertise in payment technologies
and by utilizing the proven efficiencies of an outsourced delivery model,"
said Henry Tsuei, president of First Data's north Asia region.
First Data processes credit, debit and other payment transactions for more
than 325 million card accounts on behalf of issuers all over the world and
serves more than 3 million merchant locations.
"First Data's international reach continues to grow due to strategic
agreements such as this," said Pamela H. Patsley, president of First Data
International. "This agreement and the opening of our data center in Shanghai
last October are clear evidence of our commitment to serve China's electronic
payments market with our payments expertise."
About First Data
First Data Corp. (NYSE: FDC), with corporate headquarters in Denver,
Colorado (USA) and international operations based in Paris, France, 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 check processing and verification services to
financial institutions in over 40 countries on 6 continents. First Data's
commitment to the international marketplace has led the company to become
Europe's largest independent credit and debit card processor and the largest
independent processor of Electronic Funds Transfer (EFT) services in
Australia. First Data provides VisionPLUS(R) transaction processing software
services to customers around the world including over 30 financial
institutions in Latin America. Its Western Union and Orlandi Valuta money
transfer networks include approximately 165,000 agent locations in more than
195 countries and territories. With 29,000 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 .
For further information, contact:
Nancy Etheredge (402) 222-6214 or nancy.etheredge@firstdatacorp.com or
Uhi Hui 852 / 2804 8111 or Uhi.Hui@mslpr.com.hk
FDC-1
SOURCE First Data Corp.
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Related links:
http://www.firstdata.com
CONTACT:
Nancy Etheredge of First Data Corp.,
+1-402-222-6214, nancy.etheredge@firstdatacorp.com , or Uhi Hui,
+852-2804 8111, Uhi.Hui@mslpr.com.hk
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