Five Year Contract with Leading Credit Card Issuer in Saudi Arabia
Dubai, May 23, 2007 - First Data International, a global leader in electronic commerce and payment services, today announced a major new card processing contract with Samba Financial Group, and the successful conversion of Samba's portfolio to First Data's issuing platform.
Samba Financial Group is the leading bank in Saudi Arabia and the country's largest credit card issuer. Under the five year contract, First Data is handling electronic processing for Samba's credit card portfolio. In addition, First Data is providing the bank with risk management, fraud and behavioural scoring tools, helping to ensure card portfolio growth and profitability.
First Data is committed to the region, with a strong track record of delivering processing services to banks in the Middle East. First Data's processing platform not only meets its client's current local needs, but it also offers the flexibility to support their future growth.
George Zafirakis, vice president, with responsibility for First Data's operations in the Middle East, commented: "This is a significant win for First Data, extending our market presence in Saudi Arabia and across the region, which we first entered over 12 years ago. We are delighted that Samba is taking advantage of the adaptability and functionality of our VisionPLUS platform, which is a cornerstone of our strategy to deliver processing services across the Middle East, Europe and Africa."
About First Data International
First Data International, part of First Data Corp. (NYSE: FDC), is a leading provider of electronic commerce and payment solutions for businesses worldwide. First Data International serves a diverse range of markets, leveraging global scale through a local presence and maintaining focus on individual client needs. The company has approximately 7,900 employees and operates across Europe, Middle East and Africa, Latin America, Canada, Australia and Asia-Pacific.
Serving over 5 million merchant locations, 1,900 card issuers and their customers, First Data powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services using virtually any form of payment. The company's portfolio of services and solutions includes merchant transaction processing services; credit, debit, private-label, gift, payroll and other prepaid card offerings; fraud protection and authentication solutions; electronic check acceptance services through TeleCheck; as well as Internet commerce and mobile payment solutions. The company's STAR Network offers PIN-secured debit acceptance at 2 million ATM and retail locations. For more information, visit www.firstdata.com.
For more information please contact:
Marianna Kollitiri,
First Data International, Greece
Tel.: +30 210 624 4544,
Email: marianna.kollitiri@firstdata.gr
Felicity O'Brien
First Data International
Tel: +44 7787 534149
Email: felicity@ducats.co.uk
