First Data and ABN Amro team for global payments processing

First Data and ABN Amro team for global payments processing

US payments processor First Data and Dutch bank ABN Amro have inked a five-year deal to provide joint merchant acquiring and processing services worldwide.

Financial terms of the deal were not disclosed.

Under terms of the agreement, which covers MasterCard and Visa transactions outside the US, First Data will deliver global payment processing services to worldwide merchants, while ABN Amro will provide merchants with access to card, payments systems and banking services via its global transaction network throughout Europe, Asia Pacific and Latin America.

ABN Amro says merchants will have access to its payments, treasury and investment management and trade services and will also be providing global treasury and funds transfer services to First Data.

Pam Patsley, president, First Data International, says: "This strategic agreement strengthens our ability to offer payment services to virtually anyone, anywhere and provides versatile payment options for merchants worldwide."

The service is expected to roll out in Q2 of this year and be fully implemented by 2007.

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