First Data inks Suncorp merchant processing deal

First Data inks Suncorp merchant processing deal

Australian banking group Suncorp has signed a seven year contract with US-based First Data for the supply of outsourced merchant acquiring and processing services. Financial terms of the agreement were not disclosed.

Under the deal, First Data says it will manage SunCorp's portfolio of over 6000 credit card merchants using its OmniPay Merchant Processing platform.

Peter Blackett, VP, marketing and product management, First Data, Australia, New Zealand and South Asia, says: "Our OmniPay technology platform and processing solution is designed to actively manage the entire merchant acquiring payment processing cycle."

David Foster, Suncorp's general manager, retail deposits, says the bank recently became a direct acquirer of Visa and MasterCard transactions in a move to expand its merchant business within Australia.

"We selected First Data because of their ability to provide a dynamic, global merchant processing platform capable of meeting the varied needs of our business customers," says Foster.

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