PANAMA CITY, Panama, Dec. 18 /PRNewswire-FirstCall/ -- First Data Corp.
(NYSE: FDC), a global leader in electronic commerce and payment services, and
Banco General, S.A. today announced that they have formed a new company,
Processing Center, S.A. (PROCESA), that will provide card processing services
to financial institutions across Latin America and the Caribbean. PROCESA
will offer a world-class processing solution with services customized for the
Latin America and Caribbean marketplace.
PROCESA's operations center, located in Panama City, Panama, uses First
Data's VisionPLUS(R) transaction processing software to provide a wide range
of card processing services, including credit, prepaid, gift and corporate
cards. PROCESA currently processes the portfolios of 15 institutions and
plans to aggressively expand its presence in the marketplace through a
combination of market-tailored products and services unmatched in the region
today.
"This new company solidifies First Data's commitment to meeting the
processing needs of financial institutions across Latin America and the
Caribbean," said Pam Patsley, president, First Data International. "The
combined strength of First Data and Banco General will enable PROCESA to
deliver a state-of-the-art operation that meets the unique needs of its
customers and enable its customers to aggressively grow their business and
respond quickly to changing market dynamics. This company will build upon
First Data's core strength of delivering a trusted third party processing
solution."
"We are excited to be working with First Data to offer a comprehensive
suite of products and services in Latin America and the Caribbean. PROCESA
will build upon its existing customer base and create economies that will
enable it to effectively compete in this rapidly growing marketplace," said
Raul Aleman, executive vice president and general manager, Banco General, S.A.
About Banco General, S.A.
Founded in 1955 as Panama's first private capital bank. In 1985, Banco
General acquired the locally held assets of Bank of America. In 1999, Banco
General acquired and merged its operations with Banco Comercial de Panama, at
the time the fifth largest Panamanian bank. Banco General has 36 branches in
the countries major cities, a call center, an ATM network and internet
banking,. The bank's operations are distinguished by a solid technological
platform that enables it to remain open for customers, through online
banking, 24/7.
In 1997, Banco General first obtained Standard and Poor's International
Investment Grade rating, which it retains to date. The bank also has
Investment Grade Rating from Fitch, Duff & Phelps. It is one of the few Latin
American banks holding Investment Grade Ratings from two separate
international rating agencies.
The bank maintains a universal banking strategy focused on several
products, including consumer banking and residential mortgages, as well as
corporate, commercial and private banking.
Banco General has a long-standing commitment to responsible corporate
citizenship and, in 2001, was selected to be the first company in Panama to
join the UN's Global Compact. Through its foundation, Fundacion Sus Buenos
Vecinos, the bank is committed to offer support to over 65 organizations
dedicated to providing food, health, education and shelter for children and
the elderly. In September 2001, it formed an employee volunteer corps that
supports 5 NGOs. In October 2003, the UN Global Compact invited the bank to
be the first Panamanian company to sign the Business Ethic Compact.
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 .
FDC-1
SOURCE First Data Corp.
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Related links:
http://www.firstdata.com
CONTACT:
Julie Holan of First Data, +1-407-551-3509,
julie.holan@firstdata.com
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