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ICYMI April: First Data in The News

In case you missed it (ICYMI), below, we’ve compiled the biggest stories from around the web in April, featuring issues important to First Data clients and partners including the announcement of First Data’s SMB rebrand and new Clover Online Store, the recognition of First Data’s moves to create a more inclusive workplace, the expanded adoption of NFC technology, and more:

A week ago . . . Digital Transactions and Payments Source covered a First Data news release timed to coincide with First Data President Guy Chiarello and EVP of Global Business Solutions Dan Charron’s keynote presentation at TRANSACT, ETA’s annual conference. 

During the presentation the two walked attendees through First Data’s SMB offerings, explained First Data’s SMB re-brand that moves all small business solution offerings under the Clover brand, and unveiled the new Clover Online Store.

Digital Transactions’ coverage of the release highlighted the comprehensive nature of the new Clover Online Store and noted that the store will be free for Clover users through the end of 2016, as well as that First Data already processes 28% of global eCommerce. Included was an interview with Charron that noted:

 

"Charron says the advent of the Clover Online Store also reaffirms First Data’s view of Clover as an open platform with application programming interfaces that can be used to power a variety of payment channels."

 

Payments Source spoke with Bruce Dragt, SVP of Global eCommerce, about the release and included:

 

"Targeting local businesses that have one or a few locations, First Data has created an app for Clover merchants to build their own websites using a collection of templates, with the option to add their own shipping and delivery services, said Bruce Dragt, senior vice president of global e-commerce for First Data. 'We created this service because in our conversations with small businesses, we learned that a lot of them have a website they're not thrilled with, and they don't have time to devote to this sort of thing,' Dragt said."

 

Also . . . The Associated Press published an article about how major U.S. corporations were stepping up to oppose bills in multiple states that they viewed as discriminatory and cited First Data as a prime example of a company making strides to create a more inclusive workforce. The article highlighted the progress that has been made by First Data:

 

"When Cindy Armine-Klein joined the payment technology company First Data in 2014, the firm had recently scored below 50 on the [Corporate Equality Index] survey. CEO Frank Bisignano told Armine-Klein when she was hired as chief control officer that year to prioritize creation of LGBT programs. Since then, the company has added coverage of domestic partners to employee benefits, included gender identity in its anti-discrimination policies and created a group to connect LGBT employees around the country. When a bill shielding opponents of same-sex marriage cleared the Georgia legislature this year, concerns quickly reached executives through that network." 

 

The article noted that First Data joined approximately 500 other companies opposing the bill and that Bisignano made a personal call to thank Georgia Gov. Nathan Deal following his veto. 

Two weeks ago  . . . First Data EVP and Head Division President Barry McCarthy was quoted speaking about NFC adoption in a Digital Transactions story on the increasing prevalence of mobile payments at large retailers due to, in part, EMV and Apple Pay.

The article noted that even though NFC capability has actually been around for more than a decade, it’s been the transition to a new generation of EMV-ready POS terminals that has made the difference in creating a larger footprint for NFC technology. With regard to retail adoption of EMV & NFC, McCarthy noted:

 

“We continue to see adoption of NFC, though there is still significant resistance at major merchants. The concern is that, once a merchant accepts NFC, they lose control of the payment type that is going to be distributed over NFC. That’s more than just a technology question, it’s strategic [for these merchants]. The improved speed of NFC has some appeal [to merchants]. NFC is much faster than [contact] EMV and even faster than mag stripe."

 

Three weeks ago . . . as “Financial Literacy Month” kicked off at the start of April, The Street shared First Data findings on Millennials and their attitudes towards banking collected in a 2015 study called “The Unbanked Generation.”

The Street’s coverage, titled "Here's What Big Banks Need to Understand About Millennials," referenced the First Data study numerous times and included:

 

"By 2025, they're [millennials] expected to generate 46% of all U.S. income, according to a survey by First Data. According to the survey, more than one-fifth of all millennials have never even written a physical check to pay a bill, and 63% of adult millennials don't even have a credit card. The survey found that 71% of the millennials prefer transactional banking to a relationship banking and would 'would rather go to the dentist than listen to what banks say.'"