First Data signs Czech bank Fio

Source: First Data

First Data Corporation, a global leader in electronic commerce and payment processing, today announced that from June 1, 2012 it will gradually supply a full portfolio of processing services, including transaction processing and card management services, to Fio banka, a new Czech bank and a subsidiary of the Fio Financial Group.

First Data has a strong presence within Central Europe and cooperates with a number of prominent banks and card issuers. Its recently-signed agreement with Fio banka marks an important relationship for First Data in the Czech Republic.

Specifically, First Data will provide Fio banka with a large portfolio of services from card issuing, personalisation and card authorisation systems, through to transaction processing and fraud monitoring. In addition, First Data will work together with Fio banka to bring a wide range of innovative solutions to the Czech market, such as issuing contactless-enabled payment cards and enabling cardholders to carry out PIN changes using the bank's internet banking platform.

"First Data provides us with complete processing services for our new payment cards. We are pleased to have First Data's support on this project as their international experience will enable Fio banka to keep up with current trends and offer customers advanced functionality," said Radoslav Tomašiak, Head of Payment Cards and ATMs at Fio banka.

Juraj Tomanka, Managing Director of First Data's business in Central and Eastern Europe, commented: "We are delighted to have signed this deal with Fio banka in support of it growing its card business. We believe this agreement signifies the beginning of a long and successful cooperation which will see Fio banka benefit from the wide portfolio of innovative solutions that First Data provides to its customers all around the world." 

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