First Data International Renews Major Electronic Funds Transfer Services Contract with Cuscal.Renewal to Reach a 25-Year Partnership Milestone SYDNEY, Australia -- First Data International (First Data), a global leader in electronic commerce and payment services, today announced the renewal of a major Electronic Funds Transfer See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. (EFT) services contract with Cuscal Limited (Cuscal), the leading provider of wholesale and transactional banking services to specialist retail financial institutions in Australia. Importantly the new five-year agreement, effective in January 2008, will allow subscribing Cuscal customers to automatically roll over existing processing and terminal driving services and gain access to new services. The renewal will bring the partnership between Cuscal and First Data to a 25-year business milestone. John Gilbert John Gilbert may refer to:
Please [ improve this article] or discuss the issue on the talk page. package to Australia's financial community, and we look forward to continuing our strong partnership." "Cuscal is our foundation client in Australia with a relationship spanning two decades," said Peter Wright, Managing Director, First Data International, Australia and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. . "We are extremely proud of our capabilities in retaining and extending this business. We believe that Cuscal's continued confidence in our partnership is a reflection of First Data's ability to meet the evolving needs of its clients." About First Data International First Data International, a division of First Data Corporation (NYSE NYSE See: New York Stock Exchange :FDC FDC - Floppy Disk Controller ), is a leading, worldwide provider of electronic commerce and payment solutions for financial institutions and merchants. First Data International serves a diverse range of markets, leveraging global scale through local presence while maintaining focus on individual client needs. The company has approximately 7,900 employees and operates across Europe, Middle East and Africa, 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. , Canada, Australia and Asia-Pacific. First Data provides services to 4.9 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 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 merchant transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. 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 e-commerce and mobile payment solutions. The company's STAR-Network offers PIN-secured debit acceptance at 2 million ATM and retail locations across the U.S. For more information, visit www.firstdata.com. About Cuscal Cuscal is Australia's leading wholesale provider of transactional banking, liquidity and capital management products and services to over 150 specialist financial service retailers including the majority of Australia's credit unions. Cuscal's clients manage more than $30 billion worth of assets. The core strengths of Cuscal's operating model are aggregation through Cuscal's collective buying power Buying Power The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available. Also referred to as "Excess Equity. on behalf of clients, and ability to provide them with access to the Australian capital markets, payment systems, card schemes and inter-institutional settlement arrangements. Cuscal's product offerings are fully supported by services including relationship management, legal, compliance, risk management, call centre, product training, marketing and business strategy, and project management. Cuscal's service package is complemented by extensive partnerships with other respected suppliers in financial services in order for them to provide their clients with a cost effective, speed to market, gateway to Australia's financial community. Clients are also able to leverage from Cuscal's credentials as an approved deposit taking institution, AA- S&P credit ratings, principal membership of both Visa and MasterCard card schemes, and membership of the Australian Payments Clearing Association The Australian Payments Clearing Association (APCA) sets, manages and develops regulations, procedures and standards governing payments clearing and settlement within Australia. The APCA is a public company owned by banks, building societies and credit unions. (APCA APCA Assemblée Permanente des Chambres d'Agriculture (permanent assembly of the Chamber of Agriculture, France) APCA Associação Paulista de Críticos de Arte (Portugese) APCA Australian Payments Clearing Association ). For more information, visit www.cuscal.com.au. FDC-1 |
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