First Data will start operating in Pakistan

First Data, a global leader in electronic commerce and payment processing services, announced significant customer wins and contract renewals for FirstVisionTM, its full-service global issuing and consumer finance processing solution. Co-operative Financial Services and Vanquis Bank have renewed major processing contracts with First Data, ensuring they will benefit from the company’s continuing investment in the FirstVision processing solution. Moreover, First Data has successfully completed the migration of the card portfolios of Thai consumer finance organization, Capital OK, and Punjab National Bank to its issuing platform in Shanghai. A five-year processing agreement was signed with Unicard SpA, the cards unit of Unipol Banca in Italy. The list of customers increased with Allied Bank and Bank Alfalah in Pakistan and Kotak Mahindra in India signed during 2008. FirstVision is the new name for First Data’s strategic processing service and builds on the proven strengths of VisionPLUS, the platform of choice for many of the world’s leading issuers. From data centers in Argentina, China and Germany, FirstVision today supports customers across Latin America, Europe, Middle East and Asia. Nadeem Shaikh, head of Financial Institutions services for First Data’s international business said: “FirstVision is a comprehensive, flexible and functionally-rich global processing solution, differentiated by our investments in technology and product development. It is this combination of our service offering, payments expertise and geographic presence that make FirstVision an unrivalled global processing solution. And, with one single organization responsible for delivery, we ensure faster implementation and consistent support around the world”.