Determining the right solution for your payment processing needs can mean the difference between a successful operation tailored to unique market requirements and an operation that is inflexible and outdated. From issuing to acquiring, First Data International has the products and services that Latin American companies need to remain competitive. And with more than 20 years of experience in the region, First Data has the local expertise to help you grow your business. In fact, First Data is a leading provider in Latin America and throughout the world at offering flexible and market-tailored solutions.
First Data provides a variety of payment and merchant processing services, Western Union money transfers and related payment services in Latin America. Furthermore, it has the market-tailored products and services to meet the needs of any financial institution. For both large and small portfolios, First Data brings issuers flexibility, control, versatility and speed to market for their products and services, and ensures clients benefit from its global expertise.
This global experience has enabled it to become a highly diversified service provider that is able to adapt to local demands. "Successful international companies come to the table with an understanding that they will need to modify their model to fit the local marketplace, rather than attempt to make the local marketplace fit them," says Peter Harrington, president of First Data International, Latin America and Canada.
Through partnerships and alliances, the company successfully brings its clients local, in-country, expertise. "When we enter a new country, we look at a number of strategic options; most of those options include a partner," explains Harrington. "Their knowledge of the local market and their reputation are very valuable to us. Brazil is the next market in which we want to expand our presence and our options include finding the right partner."
In a recent example, First Data and its local partner in Panama, Banco General, S.A., formed Processing Center, S.A. (PROCESA). PROCESA, whose core system is VisionPLUS(r), provides payment processing services tailored to financial institutions across Latin America and the Caribbean (see the sidebar for more details).
"First Data is already present across Latin America, but we are actively pursuing new growth opportunities and will continue to invest in the region," says Harrington.
Card Issuing Services
First Data provides card processing services and other portfolio management tools to leading card issuers across Latin America. Today close to 50 financial institutions across the region adopt First Data solutions, including Scotiabank, Banco Vimenca of the Dominican Republic, Maduro and Curiel's Bank N.V. of the Netherlands Antilles and Unibanco of Brazil. These services range from software management to full-service outsourced processing.
Increasingly, banks in this region are choosing to outsource services to First Data to improve operational efficiency and boost the bottom line. For instance, Banco Vimenca recently signed a contract to outsource its card portfolio to PROCESA. "By outsourcing to our processing company, First Data's clients enjoy the cost benefit of being processed by a larger operation, as well as working with a partner whose focus and core competency is the processing of those payments," says Harrington.
Merchant Services Through a series of strategic servicing relationships and partnerships, First Data is a leading merchant acquirer processor in Latin America. Merchants in all categories and sizes throughout the region partner with First Data for secure, reliable and cost-effective processing services. With 26 agent bank relationships in 34 countries, through close to 50,000 merchant locations, First Data has a strong presence in the region. This success is a result of First Data's readiness to work with each client to determine the most effective solution to meet its merchant processing needs.
"In each country, with each individual merchant, we bring a different set of solutions to meet the specific needs of the client," says Harrington. "However, we always bring the processing-that is the core value proposition we offer."
Regional Locations
First Data is ready with the right people and services to meet and exceed the particular needs of its clients in Latin America. Together with First Data's global network, it has the knowledge and the ability to service clients from offices in the region, including Sao Paulo, Brazil; Mexico City, Mexico; Panama City, Panama; San Jose, Costa Rica; and San Juan, Puerto Rico.
First Data Around the World
First Data has served the world's most innovative card issuers for more than 30 years in more than 70 countries and six continents, from the United Kingdom, Australia, Canada and Japan to Spain, the Netherlands, the Middle East and Germany. With more than 30,000 employees worldwide, First Data serves approximately 3.5 million merchant locations, 1,400 card issuers and millions of consumers, making it easy, fast and secure for people and businesses around the world to buy goods and services using virtually any form of payment.
* Among Fortune magazine's 2004 Most Admired Companies, First Data ranked second in its industry.
* The latest Financial Times Global 500 ranked First Data 112, up from 131, based on market capitalization.
First Data's commitment, experience and scale enable financial institutions in countries throughout Latin America to benefit from the processing solutions of this preeminent technology company and, most importantly, from its knowledge and expertise of the region's marketplace.
For more information about First Data's products and services, please contact: Juan Yalinas at +1.407.551.3216.
