First Data International to Acquire Argencard S.A.; Acquisition of South America's Leading Payment Processor Strengthens First Data's Presence in the Region.BUENOS AIRES Buenos Aires (bwā`nəs ī`rēz, âr`ēz, Span. bwā`nōs ī`rās), city and federal district (1991 pop. , Argentina -- First Data International, a global leader in electronic transactions and payments, and Argencard S.A. announced today that they signed an agreement for the acquisition of Argencard by First Data. Argencard is a leading payment processor in Argentina and Uruguay. Terms of the agreement were not disclosed. The acquisition is subject to approval by the relevant authorities and is expected to be completed not later than the fourth quarter of this year. Argencard, based in Buenos Aires, Argentina, is a premier provider of card issuing and merchant acquiring processing services supporting more than 70 banks with nine million cardholders and over 150,000 active merchants. "We are dedicated to delivering global payments expertise through local organizations that are well-respected and trusted," said Peter Harrington, President, 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. , First Data International. "The acquisition of Argencard supports this commitment as well as our continued focus on becoming the industry leader in the South American electronic payments market." "First Data has a strong reputation for delivering value to its clients through its global reach, scope of solutions and focus on service excellence. With Argencard as their partner in South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , I am confident that First Data will continue to provide the level of service that our customers have come to expect from Argencard," said Guillermo Laje, General Manager, Argencard. "The team looks forward to working closely with First Data to ensure a successful transaction." "Argentina is one of the largest markets in Latin America, and we see great potential for sustained electronic payments growth in the region," said Pam Patsley, President, First Data International. "This acquisition will differentiate us from others in the market by allowing us to provide a proven, full service payment processing solution to leading financial institutions in Argentina and Uruguay. It also sets the foundation for our continued expansion across South America." About Argencard Argencard is a leading payment processor in Argentina and Uruguay. Its services include card issuing and merchant acquiring processing for more than 70 financial institutions and over 150,000 active merchants in the region. The company offers payment processing support for credit, debit, private label and prepaid cards, as well as embossing embossing, process of producing upon various materials designs or patterns in relief by mechanical means. The material is pressed between a pair of dies especially adapted to its hardness and the depth of the design needed. , printing of statements, call center, collections and telemarketing telemarketing, the practice of selling goods or services to customers by means of the telephone or of surveying consumer preferences in telephone conversations. . The company is an acquirer of MasterCard, Maestro and JCB JCB Noun trademark, Brit a large machine used in building, that has a shovel on the front and a digger arm on the back [initials of Joseph Cyril Bamford, its manufacturer] JCB® n abbr in Argentina and Uruguay, and also delivers, through its subsidiary POSNET, point of sale services for more than 60,000 merchants and 75 credit card issuers of private label cards. It recently began offering prepaid services for mobile phones via its "Carga al Toque" brand. About First Data International First Data International, part of First Data Corp. (NYSE NYSE See: New York Stock Exchange :FDC FDC - Floppy Disk Controller ), 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. Serving 4.6 million merchant locations, 1,700 card issuers 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, gift and other prepaid card issuing and 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; money transfer services; money orders; fraud protection and authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. solutions; check guarantee and verification services through TeleCheck; as well as Internet commerce and mobile solutions. Western Union, Vigo and Orlandi Valuta together make up one of the world's largest money transfer networks with over 270,000 Agent locations in more than 200 countries and territories. The company's STAR Network offers PIN-secured debit acceptance at 1.9 million ATM and retail locations. For more information, visit www.firstdata.com. FDC-1 |
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