First Data Acquires Full Ownership of Merchant Solutions
- Category: Corporate
Merchant Solutions Joint Venture now First Data Merchant Solutions
Standard Chartered continues to work with Merchant Solutions as sponsoring bank
SINGAPORE, June 10, 2013 – First Data Corporation, a global leader in electronic commerce and payment processing, acquired full ownership of the Merchant Solutions joint venture from Standard Chartered Bank on May 31, 2013. The joint venture was first established in 2007. As part of this agreement, Standard Chartered will continue to work with Merchant Solutions as its sponsoring bank.
“The payments landscape is experiencing exciting transformation and significant growth, and taking a 100 percent stake in First Data Merchant Solutions strategically positions us to better serve some of our most important Asia Pacific markets and grow well into the future,” said Marc Mathenz, senior vice president and head of First Data’s Asia Pacific region. “We are committed to offering innovative and relevant products and services to our clients reaching beyond traditional merchant acquiring services to include mobile commerce, eCommerce, integrated solutions, and value-added services like fraud detection and prepaid cards.”
“Merchant acquiring has become very specialized and is an industry that continues to develop rapidly. This transaction allows our clients to be better served by a specialist partner with the depth of expertise needed to maintain high service levels in a fast-evolving area,” said TS Anil, Global Head Credit Cards, Personal Loans and Deposits, Standard Chartered Bank.
Current merchants will not experience any changes to their service and First Data Merchant Solutions and Standard Chartered Bank intend to work closely together throughout the transition. Operating in the Asia Pacific region for more than 30 years, First Data provides deep industry knowledge to its customers to complement its suite of innovative products and solutions.
For more information visit First Data Merchant Solutions’ new website: www.firstdatams.com.
About Standard Chartered
Standard Chartered is a leading international banking group. It has operated for over 150 years in some of the world's most dynamic markets and earns around 90 per cent of its income and profits in Asia, Africa and the Middle East. This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank’s growth in recent years. Standard Chartered PLC is listed on the London and Hong Kong stock exchanges as well as the Bombay and National Stock Exchanges in India.
With 1,700 offices in 70 markets, the Group offers exciting and challenging international career opportunities for 87,000 staff. It is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. Standard Chartered’s heritage and values are expressed in its brand promise, ‘Here for good’.
About First Data
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction. More information about the company is available on FirstData.com as well as on Twitter, LinkedIn, Facebook and YouTube.
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