First Data secures 7 year outsourcing deal with Suncorp
- 30 May, 2005 10:15
<p>FOR IMMEDIATE RELEASE
First Data: Cathryn van der Walt, 0402 327 633, firstname.lastname@example.org
Suncorp: Michelle Barry, 07 3835 5125, email@example.com</p>
<p>Suncorp Outsources Merchant Acquiring Processing to First Data Global Platform</p>
<p>Sydney, Australia, 30 May 2005 – First Data Corp. (NYSE:FDC), a global leader in electronic commerce and payment services, today announced it has signed a seven year technology outsourcing agreement with Suncorp to manage its portfolio of over 6000 credit card merchants using First Data’s OmniPay Merchant Processing platform.</p>
<p>Suncorp General Manager Retail Deposits, David Foster, said, “Suncorp recently became a direct acquirer of VISA and MasterCard transactions to assist in expanding our merchant business within Australia. We selected First Data because of their ability to provide a dynamic, global merchant processing platform capable of meeting the varied needs of our business customers”.</p>
<p>Under the terms of the agreement, First Data will support merchant environments that require around the clock mission critical payments processing. The platform’s infrastructure not only meets Suncorp’s current processing requirements but it can also accommodate significant merchant business expansion.</p>
<p>“We are delighted to be extending our decade long relationship with Suncorp,” said Peter Blackett, vice president marketing and product management, First Data International - Australia, New Zealand and South Asia. “Our OmniPay technology platform and processing solution is designed to actively manage the entire merchant acquiring payment processing cycle, delivering the power, functionality and compliance that acquirers and merchants demand.”</p>
<p>The financial terms of the contract were not disclosed.
<p>About First Data
First Data Corp. (NYSE: FDC) is a leading provider of electronic commerce and payment solutions for businesses and consumers worldwide. Serving over 4 million merchant locations, 1,400 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. The company’s STAR Network offers PIN-secured debit acceptance at 1.4 million ATM and retail locations. For more information, visit www.firstdata.com.</p>
OmniPay was established in Dublin in early 2000. In July 2002, First Data Corp. became a major shareholder in OmniPay. OmniPay’s processing platform is the leader in the provision of multicurrency card and electronic payment services to acquiring banks worldwide. OmniPay enables acquirers to compete in new geographic markets and brings new opportunities to existing markets including Dynamic Currency Conversion and Cross Border acquiring.
Suncorp is one of Australia's top 20 companies and is Queensland's biggest corporation with a market value of around $10 billion. The Suncorp Group is Australia's 6th largest bank and 3rd biggest general insurance group.