POSNET offers a complete range of innovative payment processing services, which allow Canadian merchants the ability to accept all forms of payment including credit cards, debit cards and gift cards. In addition, POSNET offers POS solutions; internet and emerging payments; authorization, settlement and reconciliation; chargeback administration; fraud prevention; reporting and equipment management and customer service.

"At POSNET, we have a solid strategy for success by offering a comprehensive suite of products and services that allow our merchant clients to easily and securely accept a wide range of payments," said Wayne Clarke, Senior Vice President, Latin America and Canada, First Data International. "POSNET distinguishes itself by providing enhanced functionality with an expanded point-of-sale product set that includes EMV/chip card acceptance. With Canada moving toward increased EMV/chip card usage, POSNET is prepared to ensure merchants experience a smooth and easy transition."

"POSNET has a deep understanding of the Canadian business processes and regulatory environment, and will build a foundation of trust with its merchants by delivering highly reliable and secure systems," said Peter Harrington, President, Latin America and Canada, First Data International. "With over 30 years of powering billions of transactions around the world, First Data is well positioned to grow POSNET into a market leader across this rapidly expanding payments market."

First Data also has a merchant acquiring business in Argentina and Uruguay named POSNET. It will continue to expand this business across the region and offer the local merchant community a competitive choice for reliable, secure and flexible electronic payment services.