First Data forges merchant acquiring partnership with China Citic Bank

Source: First Data

Global leader in commerce-enabling technology First Data (NYSE: FDC) and Hong Kong-based pioneer in mobile banking China CITIC Bank International Limited (CNCBI), announce a partnership with the launch of a comprehensive range of merchant acquiring solutions including point of sale terminals, eCommerce solutions and other value-added services in Hong Kong.

Through this partnership, CNCBI clients will have access to a full range of flexible payment acceptance methods in-store, on mobile devices, and online. Clients with physical stores, for instance, can take advantage of First Data’s latest all-in-one point of sale terminals which accept all major payment types in Hong Kong, while they can also ride on First Data’s global eCommerce solutions to facilitate the convenience of payment via card, mobile wallet or e-wallet, online and offline.

The partnership with First Data provides CNCBI clients with more channels to accept payments and inject funds directly into their CNCBI Business NOW account with a shorter settlement time. “Clients can manage their operating cash in a single account, enjoy preferential deposit interest rates and gain better visibility and control over their working capital,” said Ronald Iu, Executive General Manager, Assets & Liabilities and Customer Strategy, Personal and Business Banking, CNCBI.

“As First Data continues to invest in best-in-class technology, CNCBI clients will benefit from the flexible, robust and secure merchant solutions enabled by First Data in Hong Kong and as they expand their operations globally,” said Ivo Distelbrink, Executive Vice President, Head of APAC, First Data.

First Data’s global scale supports the growth of CNCBI’s clients, providing scope to develop collaborative solutions that leverage an integrated coverage model on the back of a consistent technology platform and standardised integration and processing across markets, generating an appealing proposition for medium-sized and large business banking clients seeking improved operating efficiency with the assistance from a single-source provider.

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