Joint venture between First Data and WestLB announced

A new partnership was established by First Data, a global leader in electronic commerce and payment processing services, and WestLB, a German regional state bank with a strong European presence, to launch a business called First Merchant Solutions. The unit will be providing card acceptance services to consumers in Germany and throughout Europe.

Under the terms of the partnership agreement as part of the new venture WestLB will be providing the licenses and payment services infrastructure while First Data will be offering a wide range of merchant acquiring services. The agreement is expected to benefit merchants in that it will provide them First Data and WestLB's extensive payments experience and international expertise.

"First Merchant Solutions embodies our efforts to fulfill the retail sector's market needs, which have been evolving in Europe as a result of SEPA," said Steffen Kowalski, a member of WestLB group's executive management team. "With this cooperation, First Data's acquiring solutions will be offered in Germany as well as 37 other countries and territories across Europe."

Source: FirstData