First Data International to Provide VisionPLUS(R) Solutions to Cetelem in China
SHANGHAI, China --(Business Wire)-- April 24, 2006 -- First Data International, part of First Data Corp. (NYSE: FDC), a leader in electronic commerce and payment services around the world, today announced that Cetelem Processing Services (Shanghai) Ltd. has signed an agreement to use First Data's VisionPLUS(R) processing solutions. Cetelem is part of the BNP Paribas Group, one of the largest international banking groups with strong presence in Asia.
Under the terms of the agreement, First Data will provide its processing solutions to supplement Cetelem's specialized proprietary systems designed for its alliance partners engaging in consumer lending such as credit cards including China Unionpay cards, Visa and MasterCard services and unsecured and installment loans. First Data will leverage VisionPLUS, used by some of the largest banks and retail card issuers in the world, as a comprehensive solution to support Cetelem's credit cards, consumer loans and related processing needs.
"We are delighted that Cetelem chose First Data International as one of its key partners in China," said Nigel Lee, President, First Data, China and North Asia. "We have invested in China to support our local and international clients with industry-leading card processing and lending solutions. This relationship with Cetelem reinforces our ability to deliver real processing capabilities to our clients in the People's Republic of China."
In 2002, First Data International established a presence in China with the launch of its Shanghai data center. The company now serves 13 clients throughout the region, managing, operating and servicing the VisionPLUS platform for many of China's major banks, including China Everbright Bank, Industrial and Commercial Bank of China and Bank of Communications Hong Kong Branch.
Mr. Chin Hock Lee, CEO for Cetelem in China, said: "Our agreement is a win-win opportunity for all parties concerned -- our customers, First Data and Cetelem. This enables us to deliver to our local alliance partners the combined sophistication of First Data's world-class card processing and lending solutions and Cetelem's specialized proprietary systems. This is a strong demonstration of Cetelem's commitment to bring our expertise to our Chinese business partners in the development of consumer finance business."
Cetelem is the leading financial institution in consumer finance in France and Continental Europe, with presence in more than 20 countries. Since its establishment in 1953, Cetelem is the preferred partner of retailer groups and has established alliances with banks and insurance companies. It is anticipated that First Data will begin providing services to Cetelem in the fourth quarter this year.
Cetelem, a company of the BNP Paribas group, is the leading consumer finance company in France and Continental Europe. For over 50 years, Cetelem, special partner in the trade market, has supported the development of major retail chains. Cetelem is also a partner of reference for banking establishments and insurance companies to which it brings know-how in matters of credit, back-office and risk. Cetelem is established in 25 countries. You can obtain additional information on Cetelem at: www.cetelem.com.
About First Data International
First Data International, part of First Data Corp. (NYSE: FDC), is a leading provider of electronic commerce and payment solutions for financial institutions and merchants around the world. First Data International serves a diverse range of markets, leveraging global scale through a local presence and maintaining focus on individual client needs. It has more than 5,800 employees and operates across Europe, Middle East and Africa, Latin America, Canada, Australia and Asia-pacific.
First Data serves 4.6 million merchant locations, 1,600 card issuers and millions of consumers, First Data powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services using virtually any form of payment. The company's portfolio of services and solutions includes credit, debit, private-label, smart and stored-value card issuing and merchant transaction processing services; money transfer services; money orders; fraud protection and authentication solutions; check guarantee and verification services through TeleCheck; as well as Internet commerce and mobile solutions. Western Union, together with Orlandi Valuta and Vigo, make up one of the world's largest money transfer networks with more than 274,000 Agent locations in more than 200 countries and territories. For more information, visit www.firstdata.com.