Agreement Allows Worldwide Merchants to Accept Card Payments in Many of the World's Major Currencies
LONDON, April 5 /PRNewswire-FirstCall/ -- Global merchants can now benefit from a one-stop solution for card transactions in international markets and major currencies, thanks to a five-year merchant acquiring and processing relationship between ABN AMRO and First Data Corp. (NYSE:FDC).
Under the agreement, First Data will deliver global payment processing services to worldwide merchants, and ABN AMRO will provide merchants access via its global transaction banking network to card and payment systems and banking services throughout Europe, Asia Pacific and Latin America. It is anticipated that the service will be rolled out from the second quarter of 2006 and fully implemented by 2007.
The agreement leverages ABN AMRO's global presence, scale and payments expertise and First Data's processing capabilities, scale and flexible processing platform, for the benefit of a mutual client base. Merchants will also have access to ABN AMRO's full suite of transaction banking solutions, including payments, treasury and investment management and trade services.
Ann Cairns, Chief Executive Officer, Transaction Banking at ABN AMRO said: "First Data is a global leader in merchant acquiring and we are delighted to partner with them in this venture, which provides a blueprint for cost effective merchant acquiring and processing going forward." Pam Patsley, President, First Data International, said: "In ABN AMRO we have a true global partner to mutually grow our business, and provide merchants with a solution that meets the evolving needs of conducting business across borders. This strategic agreement strengthens our ability to offer payment services to virtually anyone, anywhere and provides versatile payment options for merchants worldwide." The agreement covers MasterCard and Visa transactions outside the United States.
ABN AMRO will also be providing global treasury and funds transfer services to First Data.
ABN AMRO Netherlands-based ABN AMRO (NYSE:ABN) is a leading international bank with total assets of EUR 880.8 bln (as at 31 December 2005). It has over 3,000 branches in more than 60 countries and territories, and has a staff of over 96,000 full-time equivalents worldwide. ABN AMRO is listed on Euronext and the New York Stock Exchange.
ABN AMRO Transaction Banking delivers cash, trade and card products and services to corporations and businesses, financial institutions, retail customers and private clients globally. These services are available in some 3,000 locations in over 60 countries, including LaSalle Bank in the US and Banco Real in Brazil. Underpinning this extensive global network is integrated technology supporting billions of payment, trade and card transactions every year. Global scale, a commitment to continuing product and service innovation and an in-depth understanding of local and global markets are key components of our offer.
http://www.abnamro.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, 1,500 financial institutions 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 271,000 Agent locations in more than 200 countries and territories. For more information, visit http://www.firstdata.com/ . DATASOURCE: ABN AMRO CONTACT: Media enquiries, Anne Queree of ABN AMRO, +44 20 7678 1675, , or Cara Taylor of First Data, +1-303-967-6367, Web site: http://www.abnamro.com/ http://www.firstdata.com/
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