First Data inks Alfalah Bank card processing contract

First Data inks Alfalah Bank card processing contract

US-based First Data is reporting a five year card processing deal with Alfalah Bank, the largest credit card issuer and merchant acquirer in Pakistan.

Under the agreement First Data will provide credit card and acquirer processing services on its VisionPlus processing platform to support Alfalah Bank's 325,000 card accounts and 17,000 merchants in Pakistan.

First Data says it will also provide client services from its offices in Dubai to support Alfalah's international growth as the bank extends across South West Asia over the next few years.

Adil Rashid, executive in charge, credit cards, Alfalah Bank, says: "Through the rich functionality of its VisionPlus processing platform, First Data brings us the tools and capabilities to manage our card portfolio as it grows, with the fraud and risk management support we will need.

"We will also benefit from the company's global payments expertise and experience as we enter new markets."

David Yates, president, Emea, First Data, says Alfalah Bank is the firm's first client in Pakistan.

"Credit card usage is increasing across the country and the bank is seeing real opportunities to expand its business, locally and internationally," he adds. "We, in turn, continue to extend our footprint, marrying our global capabilities with a local presence."

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