The convenience of online shopping continues to attract consumers to the Web, and small-and-medium businesses are increasingly turning to eCommerce to find new customers, build customer loyalty and drive repeat business.
First Data, a global technology and payments processing leader, announces today a relationship with Yahoo! Inc. to provide merchants with fast and flexible payment options, whether their customers are down the street or around the globe.
Together, First Data and Yahoo! Small Business will provide easy-to-implement eCommerce solutions for small and mid-size merchants eager to extend their businesses to the Internet. First Data will provide merchants with point-of-sale terminals and payment processing services to complement Yahoo! Merchant Solutions and Web Hosting subscription-based products, which allow small businesses to set up their online stores and catalog web sites with simple design tools and tracking features.
First Data distributes its merchant products and services through a variety of channels, including global and national sales forces that serve as its feet-on-the-street, agents and independent sales organizations, and through its alliances with numerous bank partners. The company enables more than 5.3 million merchant locations to accept electronic payments in stores, over the phone or on the Internet. Together, First Data and Yahoo! Small Business will provide easy-to-implement eCommerce solutions for small and mid-size merchants eager to extend their businesses to the Internet.
"Joining forces with one of the leading eCommerce companies in the world will drive additional growth for eCommerce," said Souheil Badran, senior vice president and division manager for eCommerce at First Data. "The Yahoo! solution eliminates the complexities and makes it easy for smaller merchants to create professional online stores with easy-to-use tools and step-by-step guidance, while First Data brings unique and proven experience offering a 'brick and click' solution in the market. Together, we can offer our joint customers a completely integrated cross-channel payment system and a portfolio of eCommerce products certified on a broad range of gateways and POS systems."
A well integrated cross-channel payment system helps merchants by improving the flow of funds, reducing fraud and chargeback expenses, decreasing transaction costs and providing insights crucial for customer loyalty programs. Customers enjoy a wide selection of payment options as well as tested safeguards against fraud and identity theft.