Menü
Headquartered in Singapore, the new company called ‚Merchant Solutions Pte Ltd.‘, with its local subsidiaries in seven initial markets across Asia, will support Standard Chartered merchant clients with an expanded range of First Data products and services for debit and credit cards, as well as additional forms of electronic payments such as contactless and prepaid card acceptance. In addition, Merchant Solutions will provide sales support with First Data supplying front-end and back-end switching services. Merchant Solutions aims to deliver enhanced payments capabilities to Standard Chartered merchant clients from seven initial markets in Asia including Bangladesh, Brunei, Hong Kong, India, Macau, Singapore and Sri Lanka by converting to First Data’s global merchant processing platform, OmniPay, in approximately 9-12 months. China and Malaysia are also priority markets. Standard Chartered and First Data intend to rollout the alliance to other Asian and Middle East markets. „“This is both a new and very significant relationship for us,““ said Pam Patsley, President, First Data International. „“This agreement is the first of its kind for First Data in Asia, and we are both proud and pleased to build on the solid foundation we’ve established and to extend our footprint even deeper into Asia.““ For Standard Chartered’s commercial banking clients, the creation of ‚Merchant Solutions‘ will provide enhanced functionality with a suite of world-class payments products and services, such as a 24/7 Web-based transaction-reporting tool for both existing and new clients. Standard Chartered selected First Data as its regional merchant services partner for First Data’s ability to create a defined and differentiated product offering for Standard Chartered’s existing premier business-banking clients. Under the terms of the agreement, Merchant Solutions, will comprise 56 percent ownership held by First Data and 44 percent by Standard Chartered, through its wholly-owned subsidiary, Standard Chartered Bank (Hong Kong) Limited. A Board of Directors consisting of individuals from both organizations will help lead the alliance including a Managing Director. The key transaction documents were signed by Sherazam Mazari, Standard Chartered Bank, Global Product Head, Credit Cards and Personal Loans, and Nigel Lee, President, First Data International, Asia. This transaction is subject to certain regulatory approvals, and is expected to complete by October 2007. The new company is expected to begin its operations by the end of 2007. www.firstdata.com