First Data in Germany becomes an e-money institution
Leading provider of payment solutions expands capabilities and simplifies operating structure
Bad Homburg / Frankfurt am Main, 6th September 2018. First Data today announced it has been granted an e-money license and will now be regulated by BaFin. At the same time, First Data has consolidated its operating structure in Germany. As a result, the company will be better positioned to deliver innovative payments solutions in the DACH region.
TeleCash GmbH & Co KG, First Data Deutschland GmbH and the First Data’s merchant acquiring assets in Germany have been merged to become First Data GmbH. This merger creates a fully integrated solution provider in the European market that covers the entire payments value chain from a single source. The well-known TeleCash Network Service Provider (NSP) solutions will continue as a central pillar of First Data’s offering in Germany and the region, but will be bolstered by a full service merchant acquiring capability and the enhanced product and solutions set that the global First Data brand delivers.
"We have undergone a successful transformation from primarily a payment processor to an integrated payment solutions provider. Our new, simplified structure, our technology focus and our extended promise as a solution provider, all contribute to an improved customer experience," explains Joerg Brand, General Manager of First Data in Germany. "This and access to the innovative power of First Data’s global payments solutions are two clear unique selling points compared to the competition. Our customers will quickly benefit from this," Brand continues.
According to Thomas Buerger, Managing Director, First Data GmbH: "With the e-money license, we now have a much greater focus on payments innovation. We are convinced that only companies that respond to their customers' challenges with a unified, innovative solution will be successful in the market in the future."
In Germany, more than 100,000 merchant clients trust First Data's expertise and reliability. In addition, more than 400 banks and merchant acquirers value First Data's many years of experience in issuing and acquiring processing. First Data’s clients in Germany now have easier access to an expanded technology and solution portfolio from one single provider. This makes it a lot easier for clients to do business with the company. Moving forward, they will only have one contractual partner for all services they receive from the First Data group in the DACH region.
Joerg Brand, General Manager DACH of First Data, will continue to lead the company. Brand is spokesman of the management board and is responsible for sales, account management, new business and strategic projects as well as shared services functions. The management board is completed by Thomas Buerger, a First Data veteran and IT expert with more than 20 years in the industry. Buerger is responsible for IT production, IT and operations.
[We will be happy to provide you with a photo of First Data management on request.]
About First Data in Germany
First Data GmbH is one of the leading technology providers in the field of payment solutions and payment transactions. With its range of products and services, the company covers the entire payment value chain - from processing and network operation to terminal and payment solutions for PoS and e-commerce as well as comprehensive acquiring services. In addition, there are comprehensive value-added services for all aspects of the payment process. More than 100,000 retail customers in Germany rely on First Data's expertise and the stability of the First Data network. In its business with banks and as processor for other payment service providers, the company has more than 400 banks and payment institutions among its customers. More than 700 employees work for First Data in Bad Homburg and in Nuremberg, Germany. First Data has been licensed as an electronic money institution since September 04 2018 and has been licensed for Germany and the European Economic Area. The management board consists of Joerg Brand (spokesman) and Thomas Buerger.