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First Data International Renews Major EFT Services Contract with Cuscal

  • 30 January, 2007 10:56

<p>RENEWAL TO REACH A 25-YEAR PARTNERSHIP MILESTONE</p>
<p>Sydney – 30 January, 2007: First Data International, (First Data) a global leader in electronic commerce and payment services, today announced the renewal of a major Electronic Funds Transfer (EFT) services contract with Cuscal Limited (Cuscal), the leading provider of wholesale and transactional banking services to specialist retail financial institutions in Australia.</p>
<p>Importantly the new five-year agreement, effective in January 2008, will allow subscribing Cuscal customers to automatically roll over existing processing and terminal driving services and gain access to new services. The renewal will bring the partnership between Cuscal and First Data to a 25-year business milestone.</p>
<p>John Gilbert, Chief Executive Officer, Cuscal, commented on the agreement: “At Cuscal we set high standards for our business relationships and expect to always deliver the best results to our partners. First Data’s proven payments expertise during the past 20 years and its commitment to keeping our business focused on future outcomes proved to be the winning combination. We believe that First Data is the right payments solutions partner to move forward with our business. The First Data solution complements our financial services package to Australia’s financial community, and we look forward to continuing our strong partnership.”</p>
<p>“Cuscal is our foundation client in Australia with a relationship spanning two decades, “ said Peter Wright, Managing Director, First Data International, Australia and New Zealand. “We are extremely proud of our capabilities in retaining and extending this business. We believe that Cuscal’s continued confidence in our partnership is a reflection of First Data’s ability to meet the evolving needs of its clients.”</p>
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<p>About First Data International</p>
<p>First Data International, a division of First Data Corporation (NYSE:FDC), is a leading, worldwide provider of electronic commerce and payment solutions for financial institutions and merchants. First Data International serves a diverse range of markets, leveraging global scale through local presence while maintaining focus on individual client needs. The company has more than 7,900 employees and operates across Europe, Middle East and Africa, Latin America, Canada, Australia and Asia-Pacific.</p>
<p>First Data provides services to 4.9 million merchant locations, 1,900 card issuers and their customers. 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 merchant transaction processing services; credit, debit, private-label, gift, payroll and other prepaid card offerings; fraud protection and authentication solutions; electronic check acceptance services through TeleCheck as well as e-commerce and mobile payment solutions. The company’s STAR-Network offers PIN-secured debit acceptance at 2 million ATM and retail locations across the US. For more information, visit www.firstdata.com</p>
<p>About Cuscal</p>
<p>Cuscal is Australia's leading wholesale provider of transactional banking, liquidity and capital management products and services to over 150 specialist financial service retailers including the majority of Australia’s credit unions. Cuscal’s clients manage more than $30 billion worth of assets.</p>
<p>The core strengths of Cuscal’s operating model are aggregation through Cuscal’s collective buying power on behalf of clients, and ability to provide them with access to the Australian capital markets, payment systems, card schemes and inter-institutional settlement arrangements.</p>
<p>Cuscal’s product offerings are fully supported by services including relationship management, legal, compliance, risk management, call centre, product training, marketing and business strategy, and project management.</p>
<p>Cuscal’s service package is complemented by extensive partnerships with other respected suppliers in financial services in order for them to provide their clients with a cost effective, speed to market, gateway to Australia’s financial community.</p>
<p>Clients are also able to leverage from Cuscal’s credentials as an approved deposit taking institution, AA- S&amp;P credit ratings, principal membership of both Visa and MasterCard card schemes, and membership of the Australian Payments Clearing Association (APCA).</p>
<p>For more information, visit www.cuscal.com.au</p>
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<p>FDC-1</p>
<p>For further information please contact:</p>
<p>Cathryn van der Walt</p>
<p>12 Worlds</p>
<p>0402 327 633</p>

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