First Data Corp.'s international unit said Tuesday that it had signed an agreement with the Pakistani company Bank Alfalah Ltd. to do card and merchant processing.
The Denver processor said the deal is for five years. David Yates, the president of First Data International's Europe, Middle East, and Africa division, said the pact gives First Data (which has operations in other countries in the region) a foothold in Pakistan.
Bank Alfalah has 325,000 card accounts and does business with 17,000 merchants in Pakistan.
The deal with First Data will give the bank an opportunity to expand into other Asian countries in coming years.