First Data to Process Online Foreign Currency Payments for Chase Paymentech Solutions
DENVER--(AllPayNews.com)--Sept. 12, 2006--First Data Corp. (NYSE:FDC), a leader in electronic commerce and payment services around the world, and Chase Paymentech Solutions, the world's largest merchant acquirer, today announced a five-year global e-commerce processing agreement.
Under the agreement, First Data International, utilizing its OmniPay processing solution, will provide payment processing services to Chase Paymentech's portfolio of global e-Commerce merchants. The OmniPay merchant processing platform, located in Dublin, Ireland, will process transactions for Chase Paymentech's merchant portfolio, in most major currencies on a single platform in all markets where Chase Paymentech's merchants are based.
"As we continue to expand our capabilities to drive the growth of our merchants, we seek partners with scale and presence in international markets," said Mike Duffy, Chief Executive Officer of Chase Paymentech Solutions. "With First Data's OmniPay unit, we have access to a range of global wholesale payment services that are compliant with cross-border card schemes and local regulations. This ensures that Chase Paymentech can expand its legacy of providing merchants with integrated payment solutions in a timely and cost-effective manner."
Speaking today about this new partnership, Brian Connolly, OmniPay CEO, said: "The OmniPay team here in Dublin continues to enhance its customer offering by constantly building new functionality, which facilitates global eCommerce. Winning this business consolidates OmniPay's position as the leading global merchant processing platform in the world today."
OmniPay's technology platforms and processing solutions enable banks and institutions to compete in new geographic markets.
Commenting on the agreement, Pam Patsley, President, First Data International, said: "First Data is delighted to strengthen its long-standing relationship with Chase Paymentech Solutions, and we look forward to further growing this partnership. Our OmniPay solution is an integral part of our worldwide merchant strategy providing our acquiring partners with flexible solutions to meet their needs."
About First Data
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. The company has approximately 6,700 employees and operates across Europe, Middle East and Africa, Latin America, Canada, Australia and Asia-Pacific.
First Data serves 4.6 million merchant locations, 1,700 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, gift and other prepaid 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 its affiliates Orlandi Valuta and Vigo, are leaders in global money transfer, providing people with fast, reliable and convenient ways to send money around the world, pay bills and purchase money orders through a network of over 270,000 agent locations in more than 200 countries and territories. The company's STAR Network offers PIN-secured debit acceptance at 1.9 million ATM and retail locations. For more information, visit www.firstdata.com.
About Chase Paymentech Solutions
Chase Paymentech Solutions, LLC, headquartered in Dallas, Texas, is the nation's largest financial transaction processor for businesses accepting payments via traditional point of sale, hospitality, Internet, retail, catalogue and recurring billing. The privately held company is an end-to-end processor for merchants of all sizes and industries and is a result of the 2005 integration of the former Paymentech and Chase Merchant Services. The integrated companies processed approximately 15.5 billion transactions in 2005, with more than $560 billion in annual bankcard and debit volume in both the United States and Canada. Chase Paymentech Solutions' customer base includes more than 600,000 merchants with nearly 1 million locations across the United States and Canada, including many of the top brands. Chase Paymentech is a joint venture between JPMorgan Chase & Co. and First Data Corp.
Learn more about Chase Paymentech Solutions, LLC payment processing services at www.chasepaymentech.com.
First Data International
Cara Taylor, 303-967-6367