First Data Corporation, a global leader in electronic commerce and payment processing, has today announced the extension of its contract with Raiffeisen Polbank, one of its five largest customers in the banking sector in Poland.
First Data has once again been chosen by the Raiffeisen Polbank as a key supplier of outsourcing services including issuing and servicing debit, credit and charge cards along with processing and settling the payments made by the Bank's customers.
First Data also provides Raiffeisen Bank Poland SA with a comprehensive suite of value-added services, such as WDX (Web Data Access eXchange), which links the Bank's channels with First Data's systems in order to provide customers with basic information related to the use of payment cards, such as their card balance, and a transaction monitoring service based on PRM system (Proactive Risk Manager) that generates alerts in instances of suspected fraudulent transactions. First Data's proprietary domestic clearing and settlement system is a modernized solution for processing transactions made with payment cards issued by the Bank.
The key advantages of this solution are high processing capacity, individual adjustment of interchange rates for financial institutions and the competitive cost of transaction settlement.
"Thanks to our cooperation with First Data we can provide safe and innovative solutions that facilitate the use of payment cards. As a bank that offers its service to so many individual clients we have to be sure that our solutions are reliable and that we can count on our partners' support in case of any unexpected situation. Such a credible partner we have found in First Data many years ago" commented Ryszard Drużyński, Vice President of Raiffeisen Polbank.
Grzegorz Dlugosz, Member of the Board, First Data Poland, added: "The merger between Raiffesen Bank Polska and Polbank EFG has created a new financial institution with wider coverage and higher expectations. This agreement not only proves that we are a trusted partner but also illustrates that an outsourcing model is possible and beneficial at any stage in a bank's development."
First Data and Raiffeisen Polbank started their cooperation in Poland 13 years ago.