ABN AMRO and First Data Team up to Provide Global Payment Processing.LONDON -- Agreement Allows Worldwide Merchants to Accept Card Payments in Many of the World's Major Currencies Global merchants can now benefit from a one-stop solution for card transactions in international markets and major currencies, thanks to a five-year merchant acquiring and processing relationship between ABN AMRO ABN AMRO Algemene Bank Nederland-Amsterdam Roterdam Bank (Dutch bank) and First Data Corp. (NYSE NYSE See: New York Stock Exchange :FDC FDC - Floppy Disk Controller ). Under the agreement, First Data will deliver global payment processing services to worldwide merchants, and ABN AMRO will provide merchants access via its global transaction banking network to card and payment systems and banking services throughout Europe, Asia Pacific and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . It is anticipated that the service will be rolled out from the second quarter of 2006 and fully implemented by 2007. The agreement leverages ABN AMRO's global presence, scale and payments expertise and First Data's processing capabilities, scale and flexible processing platform, for the benefit of a mutual client base. Merchants will also have access to ABN AMRO's full suite of transaction banking solutions, including payments, treasury and investment management and trade services. "First Data is a global leader in merchant acquiring and we are delighted to partner with them in this venture, which provides a blueprint for cost-effective merchant acquiring and processing going forward," said Ann Cairns Cairns, city (1991 pop. 64,463), Queensland, NE Australia, on Trinity Bay. It is a principal sugar port of Australia; lumber and other agricultural products are also exported. The city's proximity to the Great Barrier Reef has made it a tourist center. , Chief Executive Officer, Transaction Banking, ABN AMRO. Pam Patsley, President, First Data International, said: "In ABN AMRO we have a true global partner to mutually grow our business, and provide merchants with a solution that meets the evolving needs of conducting business across borders. This strategic agreement strengthens our ability to offer payment services to virtually anyone, anywhere and provides versatile payment options for merchants worldwide." The agreement covers MasterCard and Visa transactions outside the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . ABN AMRO will also be providing global treasury and funds transfer services to First Data. Note to Editors: Merchant processing is the settlement of payment transactions on behalf of retailers and other merchants. It involves the processing of sales information from the merchant, authorization of the transaction, collecting funds from the card-issuing bank and funding the merchant. ABN AMRO Netherlands-based ABN AMRO is a leading international bank with total assets of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 880.8 bln (as at 31 December 2005). It has over 3,000 branches in more than 60 countries and territories, and has a staff of over 96,000 full-time equivalents worldwide. ABN AMRO is listed on Euronext and the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . ABN AMRO Transaction Banking delivers cash, trade and card products and services to corporations and businesses, financial institutions, retail customers and private clients globally. These services are available in some 3,000 locations in over 60 countries, including LaSalle Bank LaSalle Bank Corporation is the holding company for LaSalle Bank N.A. and LaSalle Bank Midwest N.A. With $116 billion in assets, it is headquartered at 135 South LaSalle Street in Chicago, Illinois. in the U.S. and Banco Real Banco Real is a Brazilian bank, owned by ABN AMRO. The consortium led by Royal Bank of Scotland is in the process of acquiring ABN AMRO, and will dismember it, with Spain's Banco Santander getting Banco Real. in Brazil. Underpinning this extensive global network is integrated technology supporting billions of payment, trade and card transactions every year. Global scale, a commitment to continuing product and service innovation and an in-depth understanding of local and global markets are key components of our offer. www.abnamro.com First Data International First Data International, part of First Data Corp. (NYSE:FDC), is a leading provider of electronic commerce and payment solutions for financial institutions and merchants around the world. First Data International serves a diverse range of markets, leveraging global scale through a local presence and maintaining focus on individual client needs. It has more than 5,800 employees and operates across Europe, Middle East and Africa, Latin America, Canada, Australia and Asia-pacific. First Data serves 4.6 million merchant locations, 1,500 financial institutions and millions of consumers. 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 In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. using virtually any form of payment. The company's portfolio of services and solutions includes credit, debit, private-label, smart and stored-value card A smart card that is "loaded" with cash. See smart card. issuing and merchant transaction processing services; money transfer services; money orders; fraud protection and authentication solutions; check guarantee and verification services through TeleCheck; as well as Internet commerce and mobile solutions. Western Union, together with Orlandi Valuta and Vigo, make up one of the world's largest money transfer networks with more than 271,000 Agent locations in more than 200 countries and territories. For more information, visit www.firstdata.com. FDC-1 |
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