First Data in Processing Pact for Contactless Payments

Published March 21, 2007, 9:13 p.m. EDT

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Updated August 27, 2020, 1:59 a.m. EDT

1 Min Read

DENVER – First Data Corp. announced yesterday it has signed a long-term licensing pact with PrivaSys Inc. that will enable First Data to process contactless and other emerging payments for financial institutions and other clients. By licensing the PrivaSys patents, First Data will be able to expand and develop its contactless product offerings and migrate quickly to other emerging payment offerings, such as mobile payments for debit, credit and stored value accounts. First Data is the parent of the STAR EFT network.

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