First Data, the global leader in payments technology for the financial services industry, and GlobalCollect, part of Ingenico Group and the world's most knowledgeable payment service provider, today announced the extension of a strategic alliance that will help customers expand into Asia's rapidly growing eCommerce markets of Singapore, Malaysia and Hong Kong.
First Data Merchant Solutions, First Data's direct-to-market merchant acquiring business, which already has a strong presence in Asia Pacific, will support GlobalCollect's growth in online travel, hospitality and retail operations into Asia, one of the world's fastest growing markets for eCommerce revenues.
Mr. Marc Mathenz, Senior Vice President and Head of First Data in APAC, said that the collaborative relationship will provide GlobalCollect's merchant customers with access to First Data Merchant Solutions' regional payment network, enabling fast, secure and reliable transactions throughout Asia.
Singapore and Malaysia represent the largest eCommerce industries of South East Asia, generating almost 50 per cent of total online retail sales in the region, despite these two countries accounting for only 8 per cent of the South East Asian population. eCommerce volume in Singapore alone is expected to reach $4.4 billion by 2015.
"First Data Merchant Solutions and GlobalCollect both have strong capabilities in payments, and together can offer travel, hospitality and retail industries a full suite of products and services, combined with First Data's strong, robust and scalable platform," said Mr. Mathenz.
Mark Patrick, General Manager Asia Pacific for GlobalCollect, said the company was pleased to extend its relationship with First Data into Asia.
"This deal broadens an already global partnership between GlobalCollect and First Data that goes back eight years, and further strengthens GlobalCollect's capabilities in South East Asia. We're seeing a lot of demand for full service acquiring and processing capabilities in Asia Pacific, and with First Data Merchant Solutions' strong position in Singapore, Hong Kong and Malaysia, we will further enhance our customers' opportunities to grow into this exciting region," said Mr. Patrick.