Profit Technologies, an international earnings enhancement firm, and First Data Corporation, a global leader in electronic commerce and payment processing, announced today they will work together to better service financial customers in the Asian Pacific market.
Together they will provide solutions such as card pricing optimization, card scheme billing audits, more efficient card production and statement processing to increase profitability and lower costs.
The new venture combines the strengths of two successful players in the global cards market; it will offer a broader breadth of financial services to credit card issuing companies in Australia, China, India, Indonesia, the Philippines, Thailand and other nations in the Asian Pacific region. Under terms of the relationship, First Data will provide credit card issuers with secure and innovative payment solutions, while PROFIT TECHNOLOGIES will create customized strategies that enhance revenue and lower costs in all aspects of card payment operations.
"The combination of First Data's trusted relationships with the consulting expertise of PROFIT TECHNOLOGIES will directly address two dimensions that financial institutions care deeply about - increasing profitability and reducing costs," said Marc Mathenz, senior vice president and head of First Data's Asia Pacific region.
"The strengths of our two companies fit together perfectly," states Russell Simmonds, president and CEO of PROFIT TECHNOLOGIES. "We have worked with First Data's systems on a number of prior engagements and this agreement will deliver even more positive results to our customers."
The two companies anticipate their first customer will sign an agreement in the coming months with others to follow later in the year.
"Customers can have the confidence knowing that First Data has worked with PROFIT TECHNOLOGIES for more than 20 years in other parts of the world," states Ken Simmonds, President Asian - Pacific Operations for PROFIT TECHNOLOGIES. "Each company has an in-depth knowledge of the others capabilities and customized solutions come with minimal risk, minimal upfront cost, and minimal disruption to the client."