First Data solution to power cross-border global commerce.
BANKING AND CREDIT NEWS-June 28, 2017-First Data solution to power cross-border global commerce
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First Data (NYSE: FDC), a global leader in commerce-enabling technology, has launched First Data[R] Local Payments solution, which will provide digital businesses and their customers with access to 195 local payment options when fully implemented.
Even in a global, always-on digital economy, payment methods have remained largely regional and country specific. Trust and security concerns, cultural preferences, technological limitations, and political restrictions influence purchasing methods, which vary extensively around the world.
With First Data's Local Payments solution, a merchant can manage varying online payment methods through a single interface, using a single collection model. Now, a retailer can easily enable a customer in Europe who wants to use a mobile wallet or a customer in Latin America who prefers making electronic cash payments. Local Payments facilitates numerous payment methods, including real-time online banking, direct debit, cash/voucher payments, payment wallets, payout schemes, and more.
Around the world, many people do not have access to banking services, which can pose challenges for cross-border transactions. Local Payments provides greater flexibility for payment acceptance, supporting consumer choice. The solution enables businesses to accept payments from their customers in the method they choose, whether they have a bank account or not. Adding Local Payments through a single integration represents a sales uplift opportunity for merchants.
The introduction of Local Payments expands First Data's robust eCommerce portfolio. First Data now offers a range of solutions for businesses of all sizes, including the recently announced Global PFAC Program for payment facilitators and the company's cutting edge Fraud Detect Solution.
First Data is a global leader in commerce-enabling technology and solutions, serving approximately six million business locations and 4,000 financial institutions in more than 100 countries around the world. The company's 24,000 owner-associates are dedicated to helping companies, from start-ups to the world's largest corporations, conduct commerce every day by securing and processing more than 2,800 transactions per second and USD 2.2 trillion per year.
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