MEXICO CITY, Dec. 5 /PRNewswire-FirstCall/ -- First Data Corp.
(NYSE: FDC), a global leader in electronic commerce and payment services, and
Scotiabank Inverlat today launched ScotiaPOS, a new merchant services alliance
that will enhance domestic and international merchant processing services in
Mexico.
Under terms of the 10-year agreement, First Data assumes management of
Scotiabank Inverlat's merchant credit card processing operations, as well as
related sales and marketing activities, operating under the ScotiaPOS banner.
Terms of the deal were not disclosed.
"This strategic alliance enables Scotiabank Inverlat to offer its business
customers the latest customized solutions, with an expanded range of options
for credit and debit card transactions," said Anatol von Hahn, president and
CEO, Grupo Financiero Scotiabank Inverlat. "Our partnership with First Data
will provide us with industry-leading payment processing technology, while
allowing Scotiabank Inverlat to remain completely focused on providing
outstanding client service."
The ScotiaPOS merchant services alliance will establish a Mexico-wide,
100-person sales and client relations team to market its services, in
conjunction with Scotiabank Inverlat's network of 400 retail branches.
Business development will focus on Scotiabank Inverlat's existing
30,000 commercial clients, 100,000 other Mexican merchants who are currently
accepting credit and debit card transactions, plus businesses not currently
equipped for card acceptance.
"Scotiabank Inverlat delivers a premier suite of commercial banking and
cash management services that complement First Data's extensive array of
existing, global payment products," said Pam Patsley, president of First Data
International. "The alliance between First Data and Scotiabank Inverlat is
uniquely positioned to meet a growing demand in Mexico."
About Scotiabank Inverlat
Grupo Financiero Scotiabank Inverlat S.A. de C.V. is one of the principal
financial groups in Mexico, with approximately 400 branches and 1,000 ATMs
throughout Mexico. It employs almost 7,000 people in its main affiliates,
Scotiabank Inverlat S.A. and Scotia Inverlat Casa de Bolsa S.A. de C.V.
Together, these companies offer an integrated suite of financial products and
services for the entire spectrum of customers -- from individuals and small
businesses up to the most sophisticated multinational corporations. See
Scotiabank Inverlat at http://www.scotiabankinverlat.com .
Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With approximately 48,000 employees,
Scotiabank Group and its affiliates serve about 10 million customers in some
50 countries around the world. Scotiabank offers a diverse range of products
and services including personal, commercial, corporate and investment banking.
With US$201 billion in assets (as at July 31, 2003), Scotiabank trades on the
Toronto (BNS), New York (BNS) and London (BNV) Stock Exchanges. For more
information please visit http://www.scotiabank.com.
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 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 169,000 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 .
This media release includes forward-looking statements about the
transaction. Such forward-looking statements are inherently subject to
risks and uncertainties beyond the parties' control, including but not
limited to, satisfaction of certain terms and conditions. Neither the
Scotiabank Group nor First Data Corp. undertakes to update any
forward-looking statement, whether written or oral, that may be made from
time to time by or on its behalf.
FDC-1
SOURCE First Data Corp.
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Related links:
http://www.scotiabankinverlat.com
http://www.firstdata.com
CONTACT:
Julie Holan of First Data, +1-407-551-3509,
julie.holan@firstdata.com , Jose Larrondo of Scotiabank Inverlat,
(52) 5229-2555, jllarrondo@scotiabankinverlat.com
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