First Data Corporation, a global leader in electronic commerce and payment processing, today announced that it has extended its long-standing agreement with Sygma Bank, one of Poland's leading credit card issuers and a subsidiary of the LaSer Group, a leading provider of card and financial services solutions to retailers.
First Data has supported Sygma Bank with the management of its payment card portfolio since 1999. The services provided by First Data in this new four year contract include the provision of a banking services platform that will provide the bank with an enriched level of information about its card portfolio and a transaction monitoring system that helps to reduce the risk of fraud.
In the next few years Sygma Bank has plans to grow the volumes of cashless payment transactions and migrate its card portfolio to EMV standards. To achieve its goals, the bank has once again chosen an established services provider with unmatched knowledge and experience of the market. In addition to providing fraud monitoring services, First Data will enable information to be exchanged between its payment card processing systems and the bank's IT systems and serve as a connection between the bank and the card schemes.
"Our cooperation with First Data in Poland provides strong foundations to support the bank's ambitious plans and reflects our strategy to build alliances with established market leaders with deep experience and product knowledge," said Jean Remy Martinez, Marketing Manager of Eastern European markets for the LaSer Group.
Grzegorz Długosz, member of the board at First Data in Poland, said: "We have supported Sygma Bank since 1999. Such a long, uninterrupted cooperation between two organisations is rare in Poland and signing this contract is a reflection of the great mutual trust between our organisations. We are glad to be not only a witness to, but also a major contributor to the successful new technologies driving Sygma Bank's business vision."