First Data Expands Partnership with SBI Card to Provide Card Processing Services in India
January 25 2018 - 7:00AM
Business Wire
As part of long-term agreement, SBI will
leverage the latest version of First Data’s innovative VisionPLUS®
software
First Data (NYSE: FDC), a global leader in commerce-enabling
technology, today announced an expanded partnership with SBI Card,
a leading credit cards issuer in India with more than 5.6 million
customers. Under the new, multi-year agreement, First Data will
provide comprehensive card management solutions powered by its
proprietary VisionPLUS® software. To support the partnership, First
Data will operate a new data center facility in India.
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“We are thrilled to grow this partnership with SBI Card. As
India continues its path towards demonetization, the country
remains an important market for us, and we are uniquely positioned
as a leader of both card issuance and acquiring solutions in India,
driving innovation with mobile and digital solutions,” stated Ivo
Distelbrink, Executive Vice President and Head of Asia Pacific for
First Data. “First Data is committed to investing in and expanding
our business in India, responding to the increasing need for
robust, secure and flexible solutions for cardholders, and enabling
clients like SBI Card to maintain a competitive edge in the
market,” Distelbrink added.
“We are pleased to appoint First Data as our new partner to
provide end-to-end processing services hosted in India. First Data
will set up and manage new data center facilities in India to
provide card management solutions,” Vijay Jasuja, Chief Executive
Officer, SBI Card, said. “These services from First Data will
enable us to get better economies of scale and enhance services
levels. We will also leverage new digital capabilities from First
Data in the future. We look forward to a long term association with
First Data.”
SBI Card will leverage First Data’s VisionPLUS system, which is
a proven global software payment solution, offering
service-oriented core architecture capabilities and open APIs for
quicker application development and integration. VisionPLUS powers
card processing for major issuers across the India market.
“First Data offers comprehensive services to many of the major
financial institutions around the world,” said Andrew Gelb,
Executive Vice President and Head of Global Financial Solutions for
First Data. “This agreement with a great partner, SBI Card,
demonstrates the continued expansion of our global processing
footprint, the scalability and flexibility of our world-class
VisionPLUS platform and services, and our commitment to partnering
with the world’s leading financial institutions.”
In India, First Data serves top national and international
banks, corporations, and small and mid-sized merchants. First Data
powers a significant portion of all eCommerce transactions in India
through the First Data payment gateway. The company was also the
first to introduce multi-payment and digital self-service channels
for merchants through mobile applications.
To learn more about First Data’s VisionPLUS solution, visit
here.
About First Data
First Data (NYSE: FDC) is a global leader in commerce-enabling
technology, serving approximately six million business locations
and 4,000 financial institutions in more than 100 countries around
the world. The company’s 24,000 owner-associates are dedicated to
helping companies, from start-ups to the world’s largest
corporations, conduct commerce every day by securing and processing
more than 2,800 transactions per second and $2.2 trillion per
year.
About SBI Card
SBI Cards and Payment Services Private Limited (SBI Card) is an
Indian financial services company to offer Indian consumers
extensive access to a wide range of world-class, value-added
payment products and services. Presently, the brand has a wide
customer base of over 5.6 million. With a market share of 16%, SBI
Card operates through over 100 locations in India. SBI Card is
based on the value proposition of “Make Life Simple”.
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Liidia LiuksilaFirst Data U.S.+1 212 515
0174Liidia.Liuksila@firstdata.comorVanessa FridaFirst Data APAC+65
6511 8729Vanessa.Frida@firstdata.comorTripti ModiSBI Card+91
9599213959Tripti.Modi@sbicard.com
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