First Data International and Pago eTransaction Services GmbH today announced an agreement under which First Data will process Maestro transactions for Pago's merchants across Europe.
The new agreement will enable Pago merchants to accept UK and international Maestro transactions by supporting authorisations and clearing Maestro transactions to Mastercard. First Data, a leader in electronic commerce and payment services around the world, will authorise transactions and process through the company's international acquiring platform.
Pago is a joint venture of Deutsche Bank and Beisheim Holding Schweiz and provides international acquiring and payment services for e-commerce businesses, shops and mail order companies. The agreement with First Data will further extend the range of payment methods Pago can support and will strengthen the company's position in the international payments market.
"For Pago, offering Maestro acceptance to online merchants throughout Europe is of outstanding importance to our overall strategy of supplying all major payment methods in all European countries", said Dr. Markus Weber, managing director of Pago. "We are very proud to co-operate with First Data and believe that this agreement will secure our high quality standards".
David Yates, president, Europe, Middle East and Africa, First Data Internationa l, said: "We are pleased to be able to support the Maestro business of Pago eTransaction Services through this development. Maestro is becoming an increasingly important payment type throughout Europe and this service enhancement will support Pago's continued strong growth across the region."